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Home > Blog > How Much Commercial Building Coverage Do You Need?
THURSDAY, MARCH 20, 2014

How Much Commercial Building Coverage Do You Need?

Construction WorkerChoosing the right amount of commercial building coverage can be confusing.  Leading Austin insurance agents would recommend that you purchase at least 25% more coverage for your commercial building.  Here are some reasons why you should consider this increase in coverage to rebuild at today’s costs:

  • In the event of either a partial or total loss you must tear down and remove the damaged building or part of the building damaged if just a partial loss.
  • Most policies covering buildings provide some coverage to remove the damaged part, usually up to 25% of the loss.
  • 25% covers this removal as long as the damage and debris removal are less than the policy limit.
  • If the loss is determined to be a total loss, ALL of the insurance would be required to cover the amount of the loss (which would not leave any funds to remove the damage.)
  • As a commercial insurance agency with many years of experience, we would suggest that you purchase enough insurance to rebuild the building at today’s costs and an extra 25% of its value to allow the funds necessary to remove the damaged building.

There are a number of different Austin commercial insurance policies that can be customized to meet commercial building insurance needs.  Contact us at 512-454-5266 for more information.

Posted 2:18 PM

Tags: insurance, commercial insurance, building coverage, austin, business owners, business insurance
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