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landlord helpApartment owners benefited from lower insurance costs in 2010, according to a survey conducted by the National Multi Housing Council.

Most owners saw a reduction of about 6% from 2009 to 2010.

Our findings show that its a buyers market, commented Jeanne McGlynn Delgado, NMHCs Vice President of Business and Risk Management Policy. The momentum of insurance rate decreases accelerated in 2010, following decreases in 2008 and 2009.

Market reports indicate that insurers are relatively flush with capital and rates are low. The frequency and severity of losses have been on a decreasing path since 2004. According to industry experts at survey partner Conning Research and Consulting, these conditions will continue until significant events push rates upward.

Rate decreases include property and workers compensation insurance, driven largely by falling property rates, according to NMHC.

The mean average workers compensation cost of risk decreased by 3%, from $858 per employee to $833. Premiums were relatively unchanged, but deductibles decreased.

The cost of general liability saw a slight increase of 3%.

Two-thirds of apartment firms”66%”require residents to have renters insurance, a big jump from last years figure of 44% and up dramatically from 2008s 24%. The most common limit required is $100,000.

For more on the survey, go to

See Across the Board Improvement for Apartment Market.

American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at

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