The Best Multifamily Landlord Insurance Companies of 2025

Finding the right multifamily landlord insurance is crucial for protecting your real estate investment. To identify the best providers for 2025, we evaluated companies on key metrics: financial strength, customer satisfaction, claim processing speed, and available coverage options.

Our analysis shows that the top carriers offer specialized policies that cover property damage, liability, and loss of rental income, all backed by excellent service. This guide details the leading multifamily insurance companies to help you make an informed choice.

Looking to protect yourself and your multifamily portfolio? Get an instant quote from Obie today. No paper applications, week-long waits for quotes, or back and forth with brokers. On average, landlords save 25% with Obie.

Top 7 Multifamily Insurance Companies in 2025

Choosing the right multifamily insurance is one of the most important decisions you'll make to protect your property. To simplify your search, we compared the top providers on coverage, cost, and service. Here are the top 7 multifamily insurance companies to consider in 2025:

1. Obie 

Obie is an insurtech company that has redesigned the insurance process specifically for real estate investors. It leverages technology to provide instant, bindable quotes online, eliminating the long waits and complex paperwork common with traditional carriers. Obie acts as a tech-enabled broker, placing policies with A-rated insurers to ensure your coverage is financially secure while delivering a fast and transparent digital experience.

Pros

• Instant Quotes: Get a bindable quote online in minutes, not days.
• Landlord-Focused: Coverage is specifically designed for rental properties, not repurposed from homeowner's policies.
• Transparent Pricing: Clear, straightforward costs without hidden agent fees.
• Efficient Digital Platform: You can manage your entire insurance portfolio online, from application to claims.

Cons

• No In-Person Agents: Lacks the face-to-face service of traditional insurance agencies.
• Limited Bundling: Does not offer bundling with personal policies like auto insurance.
• Newer Company: Has less brand history compared to legacy insurers that have been around for a century.

Best For

Obie is ideal for modern real estate investors and property managers who value speed, efficiency, and digital convenience. If you are comfortable managing business online and want to secure comprehensive coverage for your multifamily properties without the traditional hassle, Obie is the top choice.

2. Allstate

Allstate provides its multifamily insurance through a Landlord Package Policy, utilizing a vast network of local agents for service. The core strength of Allstate's offering lies in its highly customizable policies and the potential for significant discounts when bundling with other insurance products.

Pros

• Deep Customization: You can add a wide variety of optional protections, such as coverage for vandalism or loss of rent.
• Strong Bundling Discounts: Offers some of the best multi-policy discounts available, which is a major benefit if you already use Allstate for auto or home insurance.
• Financial Stability: As a massive, A-rated company, it has a long-standing reputation for paying claims.
• In-Person Service: Its large network of agents is ideal for landlords who prefer face-to-face interaction.

Cons

• Slower Process: Getting a quote and policy is a traditional, agent-driven process that can take days or weeks.
• Higher Premiums: Base premiums can be more expensive than competitors if you don't qualify for bundling discounts.
• Inconsistent Agent Experience: The quality of service can vary significantly depending on your local agent.

Best For

Allstate is best for property owners who already have a relationship with the company or plan to bundle multiple policies to maximize savings. It is also a great fit for landlords who value having a dedicated local agent for in-person guidance and prefer to build a highly customized policy with specific add-ons.

3. Farmers

Farmers Insurance is a well-established carrier known for its hands-on, agent-driven service model. While it operates as a traditional insurer, Farmers has carved out a reputation for being more flexible than some competitors when it comes to covering a wide range of property types. This makes it a strong contender for landlords with older or more unique multifamily buildings that other companies might be hesitant to insure.

Pros

• Flexibility with Properties: Often willing to insure older buildings or properties with unique characteristics.
• Experienced Agents: The agent network is known for its experience in handling various types of property risks.
• Customizable Coverage: Offers key add-ons like loss of rent, liability protection, and building code upgrade coverage.
• Financial Strength: A long-standing company with strong financial ratings, ensuring its ability to pay out on claims.

Cons

• Higher-Than-Average Premiums: Its willingness to cover more complex risks can translate to more expensive policies.
• Agent-Dependent Process: Quoting, binding, and making changes almost always requires speaking with an agent.
• Inconsistent Availability: Product offerings and service quality can vary significantly from one state to another.

Best For

Farmers is an excellent choice for investors whose multifamily properties don't fit the standard mold. If you own an older building or a unique property that requires a more nuanced underwriting process, the expertise of a Farmers agent can be invaluable. It is best for landlords who prioritize comprehensive coverage for complex assets over having the lowest price or a digital-first experience.

4. Liberty Mutual

Liberty Mutual is a major national insurer that offers a compelling value proposition for landlords who want to consolidate all their policies under one roof. While a traditional company, it has invested heavily in its digital tools, offering a better online experience than many of its legacy competitors. Its main appeal is the ability to bundle your landlord policy with other insurance—like auto, personal liability, and more—to unlock significant savings.

Pros

• Excellent Bundling Discounts: You can achieve substantial savings by combining your multifamily insurance with other Liberty Mutual policies.
• Good Digital Tools: The online portal and mobile app make it easy to manage policies, make payments, and start a claim.
• Inflation Guard: Offers an optional inflation protection rider, which automatically adjusts your coverage limits to keep pace with rising construction costs.
• Nationwide Presence: As one of the largest carriers, its policies are available across the country.

Cons

• Inconsistent Customer Service: Customer satisfaction, particularly with the claims process, can vary widely by region and representative.
• Less Competitive Standalone Rates: The premiums for its landlord policy are often not the most competitive without bundling discounts.
• Generalist Approach: Its landlord insurance is a solid product but is not as specialized as policies from a landlord-focused provider.

Best For

Liberty Mutual is the ideal choice for property owners who are looking for a single provider for all their insurance needs. If you want the convenience and cost savings of bundling your multifamily, auto, and personal umbrella policies, Liberty Mutual offers one of the most attractive packages on the market.

5. State Farm

State Farm operates on a foundation of immense financial strength and an unparalleled network of exclusive local agents. While the company's entire service model centers around the agent relationship, its "Rental Dwelling Policy" caters to landlords. 

Pros

• Exceptional Financial Strength: Holds the highest possible A++ rating from AM Best, ensuring it has the capital to handle claims of any size.
• High Customer Satisfaction: Consistently ranks at or near the top in J.D. Power studies for customer service and claims handling.
• Reliable Bundling Options: Offers dependable discounts for customers who already have auto or other policies with the company.

Cons

• No Direct Online Purchasing: You cannot get a bindable quote or purchase a policy online; every step must go through an agent.
• Conservative Underwriting: May be less willing to insure older properties or those with unique risks compared to more specialized carriers.
• Lack of Carrier Choice: Since agents are exclusive, they cannot offer quotes from other insurance companies to compare against.

Best For

State Farm is an outstanding choice for property investors who prioritize reliability and a personal relationship with a local agent above all else. If you want a dedicated professional to call for advice and service and you value the peace of mind that comes from working with a financially secure industry leader, State Farm is one of the safest bets you can make.

6. Travelers

Travelers is an insurance powerhouse with a formidable reputation in the business and commercial insurance sectors. This expertise heavily influences its landlord insurance products, making them feel more like a true commercial policy. Operating through a network of independent agents, Travelers offers robust, comprehensive coverage that is particularly well-suited for investors who treat their rental portfolio as a serious business enterprise.

Pros

• Risk Control Resources: Provides policyholders with excellent resources and tools to help identify and mitigate potential property risks, which can help prevent claims.
• Independent Agent Access: Since Travelers works with independent agents, you have the benefit of working with a professional who can often provide other market options.
• Financial Stability: As a major component of the Dow Jones Industrial Average, Travelers has exceptional financial strength and a trusted claims history.

Cons

• Complex for Small Landlords: Its business-like approach can be more complex and costly than what is necessary for a landlord with a single rental unit.
• Less Focus on Personal Bundling: While bundling is available, it is not as central to their value proposition as it is with personal lines-focused companies.
• Slower, Traditional Process: The quoting and binding process is handled through agents and lacks the speed of digital-first platforms.

Best For

Travelers is best for the serious real estate investor who manages a growing portfolio of multifamily properties. If you operate your rentals as a formal business (e.g., under an LLC) and value comprehensive, commercial-grade protection and risk management tools, Travelers provides one of the most professional insurance solutions on the market.

7. USAA

USAA is legendary for its world-class customer service and excellent insurance products, but its services are not available to the general public. It is a member-owned organization exclusively serving the needs of current and former military members and their qualifying families. For those who are eligible, USAA's Rental Property Insurance offers one of the best combinations of price, coverage, and support available anywhere.

Pros

• Unmatched Customer Service: Consistently receives the highest possible customer satisfaction ratings across the entire insurance industry.
• Excellent Value: Members often receive comprehensive coverage at highly competitive rates.
• Member-Owned: As a reciprocal insurance exchange, profits are returned to members in the form of dividends or lower premiums.
• Strong Digital Platform: The website and mobile app are modern, intuitive, and make managing a policy simple.

Cons

• Strict Membership Eligibility: This is the primary barrier; you must have a military affiliation to join.
• Limited Physical Locations: Unlike agent-based carriers, there are very few physical offices for in-person service.
• Fewer Options for Large Investors: Not designed for large-scale commercial investors who may require complex liability or portfolio-wide policies.

Best For

USAA is unequivocally the best choice for landlords who are eligible to become members. If you are a military member, veteran, or qualifying family member, USAA should be the first quote you get for your multifamily property. The exceptional service and value are simply too good to ignore.

How to Find the Best Multifamily Insurance?

Finding the right policy goes beyond simply comparing prices. To properly protect your investment, you need to match the right coverage and carrier to your specific property. Here’s a straightforward guide to securing the best multifamily insurance.

1. Define Your Exact Coverage Needs

Before getting quotes, know what to ask for. The most critical components are:

• Replacement Cost Coverage: Ensure the policy covers the full cost to rebuild your property (Replacement Cost Value), not just its depreciated value (Actual Cash Value).
• Sufficient Liability Protection: Start with a minimum of $1 million in liability coverage. For larger properties or portfolios, consider a commercial umbrella policy for extra protection.
• Loss of Rent Insurance: Your policy should include coverage for lost rental income for at least 12 months if a covered event makes your property uninhabitable.

2. Compare Different Types of Insurers

Get quotes from a mix of providers to see the difference in speed, service, and cost:

• Insurtech Specialists (like Obie): Best for fast, transparent online quotes and policies tailored specifically for landlords.
• Traditional Carriers (like State Farm, Allstate): Ideal if you want an in-person agent relationship and can benefit from bundling discounts.
• Commercial Insurers (like Travelers): A strong choice if your portfolio is growing or held within an LLC, as they specialize in business-grade policies.

3. Vet the Insurer’s Financial Health

A cheap policy is worthless if the company can't pay a large claim. Verify the financial strength of any potential insurer by checking their rating from an independent agency. 

4. Scrutinize Policy Exclusions

Understand what your policy covers and does not cover. The most common exclusions in a standard landlord policy are damage from:

• Flood
• Earthquake
• Sewer Backup
• Mold

These perils often require a separate policy or a specific endorsement (rider). Don't wait until you have a claim to discover you aren't covered.

Get an Instant Quote from Obie Today

As we covered in this post, there are a number of insurers that offer insurance for apartment buildings. However, it's important to compare options to find the best policy for your needs.

A good place to start is Obie, which offers a variety of multifamily insurance products online. Coverage is available in all 50 states and investors have insured more than $4 billion in property with Obie to date.

Get an instant quote for landlord insurance from Obie today.

FAQs about Finding The Best Multifamily Insurance Companies

How much does multifamily insurance cost?

Expect to pay between $1,000 and $3,000 per unit annually. The final cost depends on your property's location, age, construction type, and claims history.

What's the difference between multifamily and homeowners insurance?

Homeowners insurance protects your own home; multifamily insurance is a business policy for rentals. It adds crucial coverage like landlord liability and loss of rental income that a standard home policy lacks.

Is multifamily insurance required by law?

No, but your mortgage lender will require it to protect their financial investment. Failing to have it can lead to expensive "force-placed" insurance.

How can I lower my multifamily insurance premium?

You can lower your premium by increasing your deductible, bundling policies, and improving property safety. Installing features like monitored alarms or sprinkler systems can earn you significant discounts.

Does multifamily insurance cover my tenants' belongings?

No. Your policy covers the building and your liability. Tenants need their own renters insurance to cover their personal belongings. It's smart to require it in your lease.