What is commercial real estate insurance?
Owning commercial real estate requires a significant financial investment, and it’s important for California businesses that own real estate to protect their investment. That’s where commercial real estate insurance can help.
Commercial real estate insurance provides customizable coverage for properties that businesses own. Policies may guard against diverse risks that could cause damage to a property.
Which businesses in California should purchase a business property insurance policy?
Business property insurance may help any California business holding property. If a property is ever damaged in a covered event, businesses will be glad for the coverage.
Policies are available for a wide range of properties, including retail stores, office buildings, restaurants, multi-unit residential, warehouses, factories, and most other buildings that businesses would own. In most situations, policies can also be purchased for undeveloped land and major equipment.
In addition to being broadly recommended, business property insurance is often required if a building is financed. It’s generally recommended irrespective of any requirement that stems from financing, however.