No matter how hard we try to educate people, you wouldn’t believe some of the mistakes we see them make!

Do yourself a favor — check out these common commercial property insurance mistakes, and make sure you’re not making any of them

Covering just the building

Yes, you want to make sure that your structure is covered, but what about the money it generates?  The best commercial property insurance will also come with rent loss insurance — meaning that if you can’t collect rent for some reason, your insurance company will write you a check.

Not buying enough coverage

We can totally understand the desire to save a little cash — but a few bucks in savings now can easily turn into thousands of dollars’ worth of expenses later!  Remember, buying commercial property insurance means thinking about the worst-case scenario.

What if your building burns to the ground?  If you don’t have enough building insurance, you’re stuck with nothing more than a pile of ashes.

What if one of your tenants sues you for tripping over that cracked tile in the lobby?  If you’ve don’t have liability coverage, you’re on your own.

What if you need to make a bunch of repairs to get the building up to code?  If you don’t have building ordinance insurance, you’ll be writing checks all by yourself!

Not understanding what you’re buying

You just bought a giant commercial property insurance policy?  Great!

So, what does it all mean?

If you don’t know, you’re making a huge mistake.  Depending on the size of your building, the value of your commercial property insurance policy can be hundreds of millions of dollars.  You need to understand every piece of fine print before you sign on the dotted line.  If you have questions, ask.  If your agent can’t give you good answers, you’ve got the wrong one!

Get a free commercial property insurance quote