What type of insurance do I need to purchase when buying or leasing commercial real estate?

When purchasing or leasing commercial real estate in California, insurance is a critical part of the process. The most important type of insurance that you will need to purchase is Property Insurance. This type of insurance provides coverage for the building and any of its contents from events such as fire, theft, and other forms of damage. You may also need to purchase Liability Insurance. This type of insurance covers any claims against you due to bodily injury or property damage. For example, if someone injures themselves on your property, this type of insurance will help pay for any costs associated with the injury. Finally, you may need to purchase Commercial Crime Insurance, which provides coverage for any losses incurred due to employee theft or other types of crime. This type of insurance can also cover losses related to computer fraud and cybercrime. It is important to talk to an experienced insurance agent who can help you determine the best type of insurance for your commercial real estate. Every situation is different, so you will want to make sure that you get the right coverage for your particular needs.

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What type of insurance do I need to purchase when buying or leasing commercial real estate?

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