September 10, 2019
The below posts are dedicated to exploring the world of insurance for commercial real estate properties. As any commercial real estate professional will tell you when it comes to CRE insurance it can get pretty involved, especially when one is insuring multiple properties for lease.Â
CRE insurance is designed to protect a commercial property owner from losses as a result of fires, burglaries, theft or even wind and lightning damage. Coverage should include the insured building as well as equipment, tools, furniture, personal property or items and other inventory that is kept on or inside of the insured property.Â
These days most insurance companies can provide quick access to coverage online. Quotes can be provided within minutes and there are a variety of ways in which to bundle insurance packages for all of your commercial real estate needs. These insurance companies also typically allow for comparison quotes which will make it easier for you to find what you need right away. An insurance broker can be your ally here and so can lease management software.
Common types of CRE insurance include property insurance, general liability insurance, tenant insurance and business interruption insurance. The latter is a common insurance choice and provides coverage for lost income if the property is unusable as a result of a covered event. Some insurance companies include business interruption insurance as a courtesy and convenience for their valued customers.Â
Different types of properties call for different insurance needs so check here and check often when it comes to assessing the specific risks and needs of your property or properties.