Buying commercial real estate can be a great investment. However, it is an investment that includes risk such as fire, hail and floods potentially destroying your property and your hard-earned investment. That is why you have insurance, to protect the investment over the long term.
Here are some simple tips for making sure that you have the right insurance coverages and that you are paying the right price for that coverage.
1) Determine the Coverage You Need
As a commercial real estate investor, you could be buying empty buildings and then selling them or you could be buying buildings and then leasing them. As such, there are options available to ensure that you have the coverage needed based on what your long-term plans are for that property.
2) Work With An Agent Like Ramey King to Determine the Best Coverage
Ramey King Insurance has over 80 different insurance carriers to choose from. This is important because there is not a one size fits all brand of insurance particularly for commercial real estate investors. The advantage of working with a company like Ramey King is that we can do the leg work for you and make sure that the proposals for coverage are what you need and not something that doesn’t fit.
3) Compare Costs
There’s a balance that needs to be established between cost and value. While you need to compare costs, you also don’t want to forfeit coverage. It’s why it’s best to let us show you the best policies first. From there, you can compare costs between the different insurance carriers that offer the level of coverage you need. Making sure that it fits both the budget and peace of mind that you need regarding your investment.
For nearly 140 years, Ramey King Insurance has subscribed to a simple philosophy regarding insurance… “Did we make sure that all of the gates are closed?” The last thing you ever want to find out is that your insurance coverage failed to cover your property. Our job is to look at your property and make sure that if a disaster does occur that you will be able to rebuild or repair the property. So that it remains a good investment for you and for your family.