What info do I stipulation earlier I capture Commercial insurance?
I'm buying a 2 story building thats zoned for warehouse/storage. Its empty now and I want to rent out space for art studios, upstairs and perchance an arcade downstairs. The sale price of the building is 130,000. What type of insurance is best and aprox how much it costs? Any advice would be great.
Answers:
It would be a unadulterated estate lessors risk policy.
Most companies dont insure vacant buildings, so youd probably have to bring back it once you have tenants here, or at least an agreement showing that you will be getting tenats.
You need to supply property information: year built of warehouse, square footage, # of stories, alarm?, sprinkler?, roof type, garage/parking style, type of tenants, estimated annual income/rents collected,
corporation/individual business? building updates?
If you are closing escrow, you can have the insurance company bill the escrow for the premium for the first year.
I am a licensed insurance agent and would be lively to help you with this. I will necessitate a bit more information than you have provided, if you're interested, please send me an email beside your name and phone number.
Related Questions:
Answers:
It would be a unadulterated estate lessors risk policy.
Most companies dont insure vacant buildings, so youd probably have to bring back it once you have tenants here, or at least an agreement showing that you will be getting tenats.
You need to supply property information: year built of warehouse, square footage, # of stories, alarm?, sprinkler?, roof type, garage/parking style, type of tenants, estimated annual income/rents collected,
corporation/individual business? building updates?
If you are closing escrow, you can have the insurance company bill the escrow for the premium for the first year.
I am a licensed insurance agent and would be lively to help you with this. I will necessitate a bit more information than you have provided, if you're interested, please send me an email beside your name and phone number.
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