Comments on: Where to get Commercial property insurance?

By: David G, The Insurance Guy

David G, The Insurance Guy — Mon, 23 Nov 2009 04:44:59 +0000

A small commercial "independent broker" is your best shot. Your account is too small for the big brokers to be interested and many of the direct writer carriers will not be able to write this because it is "mixed-use" which means a combination of residential and commercial in the same building.
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By: Conley F

Conley F — Mon, 23 Nov 2009 04:14:59 +0000

Home insurance covers lots of different things. I don’t understand all the details of my homeowners policy, but my home insurance agent is always a phone call away. Try calling your agent or a agent in your town. http://www.usinsuranceadvisor.com/Home-Insurance.html They will be able to assist you.
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By: c

Mon, 23 Nov 2009 03:35:59 +0000

I would recommend that you call a local Farmers Insurance agent.
Farmers has a great and competitive market for commercial properties.
They also do mix-use, so it would be good for your risk, where its both an apartment building AND a storefront.
Their rates are great (atleast in California), they are well known, and they give 100% replacement cost for the coverage. Many commercial insurance companies have a co-insurance clause on their policies of 80%.
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By: mbrcatz

mbrcatz — Mon, 23 Nov 2009 03:17:59 +0000

Yep, you’re probably trying to "go direct" with State Farm, Allstate, etc.

You’re going to have to get a commercial property policy, through an INDEPENDENT agent. IT’s not cheap. The liability only, for this, is probably going to run you $1,000, and the property cost will depend on the type of coverage you have, and the value of the building – probably at least another $1,000.

You can find a local agent through http://www.iiaa.org . . . .this is NOT a coverage you’ll be able to buy directly, yourself.
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