Commercial Real Estate Insurance Tips and Suggestions

Commercial real estate insurance protects your business against anything from a minor event to a serious financial loss. You need the protection of this product to give you the satisfaction and peace of mind that being insured against various types of losses provides. When property damages strike, this insurance protects business owners from losses due to damage to physical space or equipment, or as a result of theft.


For insurance purposes, a business’ property includes the physical building in which it resides, as well as its other assets. Consider the amount of damage you could incur should any of the following things were to happen:


  • A fire could destroy your building and the contents inside


  • A car or truck could strike your building forcing a temporary closure


  • A burst water pipe could damage your documents, drawings or other valuable papers


  • A storm could damage your outdoor sign


Advisors are available that can conduct a best practices review of your operation to help identify exposures and the level of risk involved. They can provide tools and risk-transfer solutions designed to mitigate and protect against natural or man-made losses. Business insurance comes in many different types and forms. Your insurance coverage requirements will depend on many variables. You should work with your agent to tailor your policy for your needs. Before meeting with your agent, ask yourself a few valuable questions:


  • Do you own your own property?


  • Do you have customers who come to your work site?


  • How many employees do you have?


  • Do you have vehicles to cover and what is the total number of autos you use?


  • What kind of inventory do you have to carry?


  • Is there any special equipment you have to maintain?


Knowing what kind of coverage you require can help you keep the costs down on the policies you choose. Only obtain coverage that best fits your business. It’s the work you do to prepare that can help you obtain the right commercial real estate insurance for your needs.


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