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Commercial Property

Insuring Commercial Property has long been a staple of Steffey Insurance. Initially, we started in the realm of Condominium Associations. We would be asked to come in and insure the whole structures for the individual unit owners, which includes insuring the exterior of these buildings. In doing this, we gained quite a bit of knowledge about commercial property insurance due to the complex nature of what the unit owners insure compared to what the association insures. From this, we can apply much of the same knowledge to all types of commercial property insurance.

Commercial property insurance is somewhat similar to home insurance. In fact, some of it is identical, especially when you’re talking about insuring a real estate LLC that may have between 3 and 100 residential rental properties. The difference with much of the commercial property we see is that they’re not always insuring the contents of the buildings or structures. Much like condominiums, strip centers, office buildings, and mixed-use developments are usually insuring the structures but not the individual units within the buildings that are occupied by tenants or businesses. These units are usually covered underneath the tenants or business owners insurance and cover the build-outs of the square footage they occupy. This comes up often for us when insuring main street America. More often than not, the developers of these buildings will require their tenants to provide proof of insurance each year to make sure the building is fully covered both inside and out. At Steffey Insurance, we can provide the insurance for the both the individual businesses and the owners and developers of the building itself.

Insuring large commercial property requires relationships with real estate developers, builders, and management companies which we have developed over the years. We strive to work with great people that have a full understanding of why insurance is important and are willing to allow us to educate them on insuring their property. Although we insure many large properties, we have as many or more stand-alone properties in our portfolio. We insure stand-alone, single tenant office buildings, residential rental properties, banquet halls, and more. You do not have to have a large commercial structure for us to be able to help you. At Steffey Insurance, we can help educate you in regards to commercial property insurance and find a company that suits your needs for coverage at an affordable price

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