Habitational risks are covered under a Business Insurance Policy. A habitational risk insurance policy is designed for commercial residential properties such as apartment buildings, homeowners associations, rented houses and condominiums. Business Insurance Policies Provide Coverage for the Following Losses: Fire and Lightning, Smoke, Windstorm and Hail, Explosions, Aircraft or Vehicles, Vandalism and Malicious Mischief. Business Insurance Policies do not just cover the building itself. There is also coverage for business personal property, personal property of others and business income and extra expenses. There is also liability protection.Optional Insurance Coverages That May Be Added Include: Glass, Outdoor Signs, Water Damage, Accounts Receivable, Loss of Rental Income, Replacement Cost on Building, Condominium Association Directors, and Officer Errors and Omissions. This explanation of insurance benefits is provided by Insurance Marketplace.