If you own commercial real estate, it is essential to have the proper insurance in place to address the exposures associated with this type of property. The team at Heritage Agency: Real Estate & Insurance in Hermann, Missouri, has the knowledge and experience to help you analyze your risks and select the coverages that best address your needs. Contact us for more information.

What Is Commercial Real Estate Insurance?

Insurance for commercial real estate can include various types of insurance that can cover your property and the business and operational exposures you may encounter from owning it. Examples of property that may qualify for commercial real estate insurance includes the following:

·        Storage unit facilities

·        Offices

·        Hotels

·        Motels

·        Warehouses

·        Retail Shopping Center

·        Malls

·        Industrial buildings

Other types of property may be eligible for coverage. Consult with our agents for more information.

How Does Commercial Real Estate Insurance Work?

The mechanics of commercial real estate insurance is similar to other insurance policies—the insurance company agrees to provide financial assistance following covered causes of loss as long as the policyholder pays the premium.

What Does Commercial Real Estate Insurance Cover?

Commercial real estate insurance typically covers damage to commercial property caused by covered perils (e.g., hail, vandalism and fire). Our agents may also recommend insurance for liabilities and risks associated with the business and operational side of owning commercial real estate. These coverages may be available as separate policies or endorsements and may include the following:

·        General liability insurance—This may provide coverage if your operations are responsible for third parties’ injuries or property damage (e.g., someone gets hurt while on the premises of your commercial real estate).

·        Equipment breakdown insurance—This can provide financial aid to repair or replace equipment that breaks down (e.g., air conditioners, electrical systems or boilers) as a result of a covered peril (e.g., power surge, short circuit or motor burnout).

·        Loss of income insurance—This may help cover lost income if a covered event renders your commercial real estate property temporarily unusable.

·        Valuable papers and records coverage—This may help pay the expenses to replace lost documents and records after a covered incident.

Owners of commercial real estate may also be able to acquire insurance that covers damage caused by natural disasters common in their area (e.g., floods and earthquakes). Speak with us for more information on options, limits and exclusions.

Contact Us for More Information

The professionals at Heritage Agency: Real Estate & Insurance can help you assess your exposures and build a comprehensive insurance plan. Contact us today to get started or for a quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.