Getting the right coverage for your mixed-use building is a little tricky. As a property owner, you are responsible for protecting residential and commercial outlets against potential perils. As such, you need an insurance package that can cover the liabilities associated with owning mixed-use properties. Does this mean you need separate plans? The short answer is no. Fortunately, all your coverage needs can be met with a single policy.
What Type of Coverage Do You Need?
There is a specialized coverage solution called mixed-use commercial property insurance. It eliminates the need for multiple policies. It’s designed specifically for residential and business risk exposures, which include:
- Natural disasters
What Is The Cost?
One benefit of this policy is its affordability. You pay much less than you would if you bought separate policies for your residential and commercial needs. Also, agents often offer discounts for things such as:
- Multiple buildings
- Claims-free experience
- Years in business
Who Needs This Policy?
The policy covers a wide range of properties such as shops, cafes, offices, hotels and restaurants. It is a risk management solution used by landlords, management companies, individuals, property managers and freeholders.
When seeking a coverage plan, consider getting mixed-use commercial property insurance. It is an affordable policy that protects your residential and business assets.