Commercial Property Insurance
Commercial Property Insurance will cover your building from the costs that will ultimately fall on the building owner. Commercial Property Insurance will provide protection against most perils such as a fire, theft, and some water damage. Being properly insured will help a building owner transfer risk to an Insurance Company that will indemnify the owner in the case of a loss.
In the event of a loss, portions of the building might be uninhabitable and therefore rental income will be forfeited. To protect from losing rent due to repairs, renovations or construction, Loss of Income will help subsidize portions of the loss.
Loss Runs
Loss Runs are the official reports from Insurance carriers showing a properties claim history. A company will not offer an official quote before evaluating the loss history of a commercial property. Loss Runs can be obtained either from your current agent or, if they do not provide the Loss Runs, from the carrier directly.
