Commercial landlords and property owners have a great opportunity to generate wealth, but the risks involved are also significant when compared to some other investments. One way that many people mitigate this risk is through the procurement of insurance, specifically commercial property insurance.
The basic function of insurance is to protect against known unavoidable risks. In commercial property ownership these risks often take the form of destructive forces, such as fire or flood. Commercial property insurance also tends to cover the costs incurred in the removal of storm debris from your property. It might even offer periods of indemnity should your property become uninhabitable.
Tenant and landlords sometimes exist in harmony, but it's common knowledge that many things can cause tension in this relationship. Insurance can provide coverage in the case that situations need to be addressed in court, as they often do when individuals are injured on a property or tenants maliciously destroy property.
Commercial property insurance is attractive even to those who are more interested in the bottom line than they are in protections and assurances. Federal law allows deductions for insurance premiums including, but not limited to, fire insurance and landlord liability insurance.
There are other benefits, and more detailed information is also available. Call American Quality Assurance Group if you're curious to learn more about how commercial property insurance can be beneficial.