Insurance: Is General Liability enough should we opt for more?

[David Toupin]

Getting quotes on the apartment buildings we have under contract right now.  The General Liability quotes are ranging from $15-18k and one at $25k.  

With full coverage for flood, fire, quake, etc we are looking at about $60k premium per year because of the age and the area it is in, which completely throws off our numbers.  

What route do most of you typically take, and what is standard for apartment buildings?

Thanks,

David Toupin