Property details
Construction, occupancy, age, updates, protection systems, and location all matter to underwriting.
Coverage for commercial real estate
Commercial Building Insurance
Commercial building insurance helps property owners protect structures used for offices, retail, industrial operations, warehouses, and other business purposes. GLG helps identify the building details and coverage options carriers need to evaluate the risk.
Coverage availability, eligibility, and terms vary by carrier and state. A quote request does not bind coverage.
Valuation
Use realistic reconstruction costs and review how the policy values covered property.
Income exposure
Consider rental value or business income when a covered loss makes space unusable.
Coverage for commercial buildings
A commercial property policy may cover the structure and permanently installed items against listed or broadly defined covered causes of loss, subject to exclusions and policy terms.
- Building structure and attached fixtures
- Completed additions and certain outdoor property
- Landlord-owned equipment used to service the building
- Debris removal and certain increased construction costs
- Rental value or business income when selected
Information insurers use to quote coverage
Accurate property data helps carriers assess the exposure and price coverage appropriately.
- Construction type, square footage, and year built
- Roof, plumbing, electrical, and HVAC updates
- Occupancy and tenant operations
- Fire protection, alarms, and distance to hydrants
- Claims history and requested deductibles
Owner and tenant responsibilities
A landlord's building policy and a tenant's business property policy protect different interests. Lease requirements should be reviewed to identify who is responsible for the building, improvements, contents, liability, and loss of income.
Common questions
Commercial Building Insurance FAQ
What does commercial building insurance cover?
Depending on the policy, it may cover the insured structure and attached fixtures against covered causes of loss such as fire, wind, theft, or vandalism. Exclusions and deductibles apply.
How is a commercial building's insurance value determined?
Insurers typically consider the estimated cost to reconstruct the building with comparable materials and labor, along with selected valuation terms—not the land value or market sale price alone.
Do commercial tenants need their own insurance?
Usually. Tenants commonly need coverage for their contents, improvements, income exposure, and liability, based on the lease and their operations.
Talk through your options