Building Owners
Owners of office buildings, retail, warehouses and mixed use properties, including investors who lease to tenants.
Commercial Property Insurance in Texas
Coverage for the buildings you own and the furniture, equipment and inventory inside them, plus the income you lose while you rebuild after a covered loss.
Who It's For
Tenants
Businesses that lease space and own their furniture, equipment, inventory and the improvements they paid for.
Strip Center Owners
Multitenant retail centers where the leases decide who insures the building, glass and signs.
Warehouses and Light Industrial
Distribution, storage and flex space with stock, racking and equipment.
What It Covers
Building
The structure, permanent fixtures and building equipment, insured for what it would cost to rebuild.
Business Personal Property
Furniture, computers, equipment, inventory and the tenant improvements you paid for.
Business Income and Extra Expense
Income you lose and extra costs you pay to keep operating while the property is repaired after a covered loss.
Equipment Breakdown
Mechanical and electrical breakdown of HVAC units, electrical panels, compressors and other equipment.
Ordinance or Law
Extra costs to meet current building codes when an older building is repaired or rebuilt, including demolition of undamaged parts.
Signs, Glass and Outdoor Property
Pole signs, storefront glass, fences and lighting, which many forms limit unless you add them.
Texas and San Antonio Details
Replacement cost pays to repair or rebuild with new materials of like kind and quality. Actual cash value subtracts depreciation, which can leave a large gap on an older roof. Many commercial property forms also carry a coinsurance clause, commonly 80% or 90%. If the building is insured for less than that share of its value at the time of loss, the claim payment is reduced, so we check the limit against a current replacement cost estimate. An agreed value option can suspend coinsurance for the policy term.
Many Texas commercial property policies carry a separate wind and hail deductible, often written as 1%, 2% or 5% of the building limit, and some write roofs at actual cash value or exclude cosmetic hail damage to metal roofs and siding. San Antonio sees hail most springs, so know your wind and hail deductible in dollars before storm season, and we compare those terms along with the price.
Standard commercial property forms exclude flood. Flood coverage for a commercial building comes from the National Flood Insurance Program or a private flood insurance company, and NFIP policies generally have a waiting period before they start, so buy it before a storm is in the forecast. If you lease, the lease decides who insures the building, the glass, the HVAC and the improvements you paid for, so read it before you set limits.
Common Questions
What Is the Difference Between Replacement Cost and Actual Cash Value?
Replacement cost pays to repair or replace with new property of like kind and quality. Actual cash value subtracts depreciation, so an older roof or older equipment pays less.
What Is Coinsurance on a Commercial Property Policy?
A clause that requires you to insure the property for a set share of its value, commonly 80% or 90%. If the limit falls short at the time of loss, the claim payment is reduced in proportion.
Does Commercial Property Insurance Cover Hail Damage?
Generally yes, subject to the wind and hail deductible and any roof terms on the policy. Some Texas policies pay older roofs at actual cash value or exclude cosmetic damage, so we check that wording when we quote.
Do I Need Commercial Property Insurance If I Lease My Space?
Usually. The landlord's policy covers the building, not your furniture, equipment, inventory or the improvements you paid for, and your lease may make you responsible for some building systems.
Is Flood Covered Under Commercial Property?
No. Flood needs a separate policy through the National Flood Insurance Program or a private flood insurance company, and NFIP policies generally have a waiting period before coverage starts.
Related Coverage
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