High Hazard Occupancy: Industrial buildings can host all different types of tenants from low risk to high risk. In the eyes of the insurance carrier, the lower the hazard the better as this can correlate with losses to the buildings. The tenant can, also, determine eligibility with a carrier. When speaking with one of our licensed agents it is important to disclose all of our tenants so that they can identify the correct carrier and coverage forms for your industrial building.
Vacancy: High rates of vacancy pose a risk for theft and vandalism. Some carriers will tolerate partial vacancy, and there are specialized carriers that insure industrial buildings that are between 25-100% vacant.
Building Protection: Safety features such as sprinkler systems, alarm systems, and video surveillance will not only protect your industrial building but carrier look favorably upon these and will offer premium discounts up to 30%.
Deductible: The deductible is the portion of the loss that you agree to retain. The higher deductible that you choose to carry on your shopping center insurance policy the larger discount you will receive. Deductibles range from $1,000 to $100,000, and sometimes higher if you own a large shopping center. You get to choose your deductible, and your agent can help you along the way by presenting alternate options upon your request.
Sprinkler System: Wet, dry, or chemical systems all apply for sizable discounts.
Central Fire/ Alarm: Fire alarms that report to a central station or monitoring service are eligible. A certificate of service will generally suffice for adding this coverage.