Commercial Building Insurance

The commercial building insurance cover the commercial building against the damages caused due to fire or natural calamities. The insurance also provides cover for theft and vandalism. Some form of commercial building insurance cover the death and injury on the premise while some other cover the furniture and other property inside the building.

The commercial building insurance policies can broadly be grouped into two types-all risk policies and named peril policy. The named peril policy provides cover for the calamities mentioned in the policy document. If the policy is taken to cover the damages due to fire and flood then the policy can be claimed for these calamities only. In case the building is damaged due to earthquake then the building owner cannot claim for the policy cover.

The all risk policy on the other hand is just opposite to the named peril. Such policy covers all type of calamities. This type of policy is especially suitable for the small owners.

You can apply for the actual value cost coverage or the replacement coverage. The actual value cost coverage is cheaper than the other. This will give you the amount which will be equal to the actual cost of the building and the contents of the building that damage during the calamity.

The replacement coverage on the other hand gives you the cost that you will incur in replacing the building and the contents that get damage in the calamity. This is costlier than the actual value coverage but is the most preferred one.

There are number of banks providing the commercial building insurance. You can get hold of all the information online. Visit the sites and find out about the different lenders specializing in commercial building insurance.

Search them and get the quotes. Download the list and the quotes and compare them. Find out the terms and conditions that these lenders have for the policy that they give you. Compare them and then make a choice.

You can apply for the landlord insurance. If you are looking for this type of cover then ensure that the plan provides you all the necessary cover that you are seeking for. It is available in the form of unoccupied property insurance, landlord content insurance, landlord building insurance, loss of rent cover and rent guarantee insurance.

If you are unable to rent your property due to the calamity insured in the property then the loss of rent plan will give you the necessary cover. The rent guarantee insurance is an extension of the legal expense insurance. This provides the necessary cover if the tenant defaults the payment of rent.
It is important to have a commercial building insurance as it ensures you cover for the losses that may arise due to the fire, theft or any other natural calamity.