NV Commercial Property Insurance

| Landlord Insurance.

NV Commercial Property Insurance

Commercial property in Nevada can be a great investment, whether you are buying for your own business or to lease out to another business. The recovering real-estate market in Las Vegas has created an incredible buying opportunity for investors and business-owners alike. In fact, there might not ever be a better time to look at buying a commercial building.

NV Commercial Property Insurance

As part of your due-diligence in selecting and purchasing a commercial building, you need to also make sure you secure the right type of insurance. If you are purchasing a building for your own business, the appropriate building coverage can normally be added to your existing NV business insurance.  If you are buying the building as an investment, you will need a specialized lessors risk or commercial landlord insurance policy. Regardless of the intended building use, look for the following coverages to keep you protected:

  • Building replacement cost coverage, versus actual cash value coverage
  • Ordinance or law, including debris removal and increased cost of compliance.  This is especially important for older buildings.
  • Loss of rents, for buildings that are leased to others.
  • General liability for the premises, to protect the business or landlord from injury claims that might occur on the property.

Check out our recent article on Commercial Landlord Property Insurance for more detailed information on leased buildings. Also carefully consider our Landlord Best Practices when buying a building as a landlord. We also recommend you consult with an attorney about setting up a holding company, such as an LLC, that will own the property.

Get a Quote for Commercial Property Insurance

Regardless of whether you intend to occupy the building for your business or lease to someone else, know that at Safeguard Insurance, we have the right insurance products and programs at the right price.  Contact us today for a no-obligation proposal for all your business and personal insurance needs!

Get a Quote: Lessors Risk Insurance

Image Copyright: feverpitched/123rf.com

Leave a Reply