Why You Need Commercial Real Estate Insurance: Pollution Risk

As a property owner who has invested a great deal of money in real estate, you are in a position to do well as a businessperson. But with rewards often come risks, and the list of concerns can be extremely long. Aside from the standard issues of liability for injuries to tenants, residents or visitors, there are other pressing matters, such as business interruption and the growing threat of cyber crime.

Another critical issue for commercial real estate insurance is the risk of pollution. Even from the moment you break ground, as a commercial property owner, you can be held liable for a number of environmental risks, including:

  • Mold
  • Lead
  • Asbestos
  • Other indoor air quality exposures that can cause ailments among occupants

These are all things that pose a serious health threat, but can also determine whether or not the building must be vacated, for what can often be an extended period of time, until the problem is resolved and there are no imminent dangers to the health of the property’s occupants.

Pollution risks often come as a result of improper handling or inadequate storage and disposal of items used in the construction of the property. This usually includes lubricants, oils, paints and primer and other waste materials that can also present liability issues for you as a property owner, which is where Pollution Liability Insurance or Environmental Liability coverage comes in.

There are agencies available that can provide you with a very sound and secure commercial real estate insurance program that includes pollution coverage and is tailored to your particular needs. They can look at insurance solutions for the type of property you own, consider what type of coverages are best designed to protect your company from all types of property and liability exposures, (including pollution risks, that are commonly excluded from standard policies) and give you the peace of mind in knowing that you have literally covered all the bases.