Buying a property
Coverage bound and documented before closing, matched to your lender's requirements.
Commercial property
Retail property insurance in California
For owners of neighborhood centers, strip retail, and single-tenant net lease buildings.
Retail property is insured around its tenants. A center with a restaurant, a salon, and a dry cleaner presents different questions than a single building leased to one national tenant.
In a multi-tenant center, insurers look at who the tenants are and what they do, especially cooking. They also look at the common areas the owner controls: the parking lot, the sidewalks, the lighting. Slips and falls in those areas are a common source of liability claims, so maintenance records help.
Leases do a lot of the work. Each lease should require the tenant to carry its own liability coverage and name the owner as an additional insured, and someone has to collect the tenant certificates that prove it. In a single-tenant net lease, the tenant may insure the building itself. We read the lease insurance sections with you and point out where the owner’s policy needs to pick up.
What we place for retail owners
- Property coverage on the buildings
- Loss of rents
- General liability
- Umbrella and excess liability
What insurers look at
Having these ready makes a submission stronger.
- Tenant mix, including restaurants and other cooking uses
- The insurance requirements in each lease
- Parking lot and sidewalk exposures
- Single-tenant net lease or multi-tenant
- Roof age and building updates
- Vacancy
What lenders usually ask for
Lenders usually ask for replacement cost on the buildings, loss of rents for a set period, liability and umbrella limits, and the lender named as mortgagee and additional insured. For net lease buildings, they often want to see how the tenant's coverage and the owner's coverage fit together.
Your situation
Refinancing
A new lender means new requirements. We update your coverage and paperwork to match.
Building or renovating
Builder's risk for the project, then a clean move to permanent coverage at completion.
Renewal or non-renewal
Start early, see your options side by side, and avoid a gap.
Common questions
What do you need from us?
Your current policies if you have them, a statement of values, five years of loss runs, and your lender's insurance requirements. Missing something? Start anyway.
How early should we start before a closing?
As soon as you're under contract. Insurers need property details and loss history to quote, and some properties take longer to place.
Can you deliver documents directly to our lender?
Yes. We send the binder, evidence of insurance, certificates, and endorsements to your lender and escrow.
Do we have to move every policy to you?
No. That's your choice. Many clients start with one property or one renewal.
Have a date coming up?
Tell us what's happening and when. Your broker will reply within one hour on business days.