Commercial Insurance For Property Managers – Don’t Go to Work Without It
Just like you would never allow a tenant to go without renters insurance, property managers also should never go without commercial insurance.
From protecting the physical property itself to protecting your business from lawsuits to simply ensuring your business income is protected in the event your property must close for a period of time, the right insurance coverage is essential to your bottom line.
But commercial insurance is not a one-size-fits-all product. Depending on what your property is used for, the size of your property and your own risk tolerance, there are a number of different policy options available, including:
Commercial Properties For Sale Or Lease Need Good Car Parking Facilities
One of the major components that appears to get frequently under-rated by commercial property developers or commercial property lessees when investigating potential commercial properties is parking space availability.
If the shopping centre/mall develops and grows as you are planning for it to do, then you will be needing a well designed space for people to park their vehicles safely. Not only having enough parking bays available but having well designed parking spaces is nearly as important as having a well laid out floor plan for your retail outlets.
Vacant Property Insurance
In these tough economic times insured’s would be prudent to review all properties that they have property insurance on. The two most important words to pay attention to in your insurance contract are occupancy and vacancy. These provisions usually affect the property insurance for your buildings and contents that you have insurance on but they can also play a part in your general liability insurance program also.
Most insurance policies clearly define what they mean by vacant or occupied. Reading and understanding these definitions can be tantamount for you as the insured in knowing whether or not you’re going to have coverage if a claim should occur. Usually insurance companies are not as concerned with the building being unoccupied as they are with the building being vacant. The insurance companies understand that from time to time buildings can be unoccupied as new tenets come and go. Or there might be some remodeling issues that need to be addressed and the building could