Commercial property insurance for building owners

Commercial properties we insure

• Office building insuranceOffice building insurance for owners in NYC and nationwide: commercial property, loss of rents, general liability, umbrella and equipment breakdown for single- and multi-tenant offices.
• Shopping center & retail insuranceInsurance for shopping centers, strip centers and retail buildings: property, loss of rents, general liability for parking lots and sidewalks, umbrella and tenant insurance requirements.
• Mixed-use building insuranceInsurance for NYC mixed-use buildings with apartments over retail, restaurants or offices: one program for residential and commercial exposures.
• Vacant building insuranceVacant building insurance in NYC for empty buildings, buildings between tenants and properties awaiting renovation.
• Builders risk & constructionBuilders risk and construction liability insurance in NYC for ground-up projects, gut renovations and conversions.

What a commercial property program usually includes

• Commercial property for each building at replacement cost, with loss of rents based on the rent roll.
• General liability for the areas the owner controls: lobbies, parking lots, sidewalks and common areas. See property vs. general liability.
• Umbrella / excess liability on top.
• Equipment breakdown and ordinance or law coverage, depending on the building.
• Flood as a separate policy where the property is in or near a flood zone, since standard property policies generally exclude it.

Package policy or separate policies?

Smaller buildings can sometimes be written on a business owner's policy (BOP) that packages property and liability. Larger or more complex properties are usually written on separate commercial property and general liability policies, which allow more tailoring of limits, deductibles and coverage. We will tell you which fits your building.

Tenants carry their own insurance

For any commercial property, leases should require tenants to carry their own general liability, name the owner as additional insured, and provide a certificate each year. Collecting those certificates is one of the simplest ways an owner can protect the building's own loss record.