We know that you take pride in how you maintain your apartment complex. You like that the quality of landscaping and amenities appeals to renters, and you have been able to increase the rent and still keep the apartments rented. However, as with all apartment owners, a key step is managing your liability exposure. Why? Managing liability exposure can help you save on insurance and can reduce the risk of lawsuits.
So, how can you manage your liability and save on insurance at the same time? Here are some simple steps you can take. 
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Rewrite your rental agreements to require each tenant to maintain individual liability coverage. You can require the tenants to submit a certificate of insurance annually. This will allow you to get reimbursed for damage caused by tenants.
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Work with your attorney to include indemnity agreements and waiver of subrogation clauses in the lease. This helps you transfer any liability from damages or injury to the tenant and protects you from being sued for reimbursement for claims against the tenant.
Let's look at those two steps for a minute. If someone is injured in a tenant's apartment, they might try to sue you for liability. However, if you follow those two steps above, you are making the tenant responsible for the liability risks within his or her unit. So, if someone is injured in a tenant's apartment, then the tenant's liability insurance is responsible. That saves you because the claims won't be against your insurance.
Hire someone to come to your apartment building and look for potential problems, such as sidewalk cracks, things that someone might trip over, lighting etc. Have that person think about children around the building. Are there any ways a person can be injured? If yes, then fix it right away. Taking the time and investing a little money in fixing those things can save you money in the long run. You can show that you have a history of fixing problems, so it is less likely to be proved you were negligent. At the same time, fewer people will be hurt and you will likely have fewer insurance claims.
Ready to save some money on your liability insurance for your apartment building or any other small business you own? Start with these three easy steps, then contact your independent insurance agent to get a quote.