New York Shopping Center And Strip Mall Insurance (Quotes, Cost & Coverage)

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Frequently Asked Questions About
Commercial General Liability Insurance

How much does commercial insurance cost?

Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number.

What kind of business insurance do I need?

Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.

What is a Certificate of Insurance?

A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it.

Is business insurance tax deductible?

Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.

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New York Shopping Center And Strip Mall Insurance

NY Shopping Center And Strip Mall Insurance

New York Shopping Center And Strip Mall Insurance. Being the owner of a shopping center or a mall can be an excellent investment. Consumers are always looking to purchase products, and businesses are always looking for spaces where they can easily supply their consumers with the products that they seek.

However, owning a shopping center or a NY strip mall is more than just an investment; it's also a responsibility. Your tenants rely on you to provide them with a safe space where they can conduct their business, and shoppers count on you to offer them a safe and secure space where they can buy the items they want and need.

There are certain risks that come along with the responsibility of owning a shopping center or mall. Damaged property, fires, injuries; these are just some of the risks that you face. Shoppers and tenants alike could file lawsuits against you, which could result in serious financial distress. Plus, legal action could put your reputation at risk, which will only cause further financial hardship.

How can you protect yourself from the risks that are associated with owning a mall or shopping center? - By making sure that you have the right New York shopping center and strip mall insurance coverage.

New York shopping center and strip mall insurance protects your property from damage & lawsuits with rates as low as $77/mo. Get a fast quote and your certificate of insurance now.

Commercial General Liability Insurance

Though there are several types of insurance policies that a NY shopping center or mall owner should carry, the most important is commercial general liability. New York shopping center and strip mall insurance coverage will protect your business from any financial losses that are related to injuries, property damage, and various other risks. Generally, a commercial general liability insurance policy offers the following types of coverage:

  • Premises Liability - NY shopping centers and malls are bustling with activity. As shoppers or delivery people are walking throughout your facility, there is always a chance that they could trip or fall, that a piece of equipment could break and cause an injury, or that something could malfunction and damage personal property. With premises liability, the damages that are associated with such situations will be covered. For example, if a shopper is injured, your insurance will cover the cost of medical care, legal fees, and any compensation that you are required to pay.
  • Products Liability - Though the tenants within your shopping center or mall are responsible for any products that they sell, it is still a good idea for you to have your own products liability coverage. If a product malfunctions and injures a shopper or damages someone's property and the policy of the tenant doesn't offer enough coverage - or worse, the tenant doesn't have coverage - you could be held liable. With products liability coverage offered under commercial general liability insurance, you will be protected from any legalities that arise as the result of a faulty product that causes an injury or property damage.
  • Completed Operations - Under general liability insurance, you will also receive completed operations coverage. This section of general liability insurance will safeguard you from any lawsuits that could potentially arise after you have completed a service for a shopper. For example, if a customer believes that a service you offered caused him or her harm, that customer could file a lawsuit against you. The completed operations portion of your commercial general liability insurance policy will protect you from these claims, offering coverage for legal defense and any compensation that you may be required to pay.

Commercial Property Insurance For Strip Mall & Shopping Center Owners

Next to commercial general liability insurance, property insurance is the most important coverage for NY strip mall and shopping center owners. This type of coverage protects the property, including the buildings on it, the signage, the landscaping, the sidewalks, the parking lots, and the garages.

If any of these elements of your property are damaged as a result of a fire, a weather-related incident, vandalism, or any other type of destruction, a NY commercial property insurance policy will provide you with the protection that you need. It covers the costs of repairing and replacing damaged property so that you don't have to pay for it out of your own pocket.

Insurance is absolutely vital for shopping center and mall owners. Speak to a experienced insurance broker to find out what type of insurance you need and how much coverage you require so that you can keep your investment - and yourself - protected.

Request a free New York Shopping Center And Strip Mall Insurance quote in Albany, Amherst, Auburn, Babylon, Binghamton, Bronx, Brookhaven, Brooklyn, Buffalo, Clarkstown, Clay, Colonie, Elmira, Glen Cove, Greenburgh, Hamburg, Hempstead, Huntington, Islip, Ithaca, Jamaica, Jamestown, Long Beach, Manhattan, Middletown, Mount Vernon, New Rochelle, Newburgh, Niagara Falls, Orangetown, Oyster Bay, Perinton, Poughkeepsie, Queens, Rochester, Rome, Rye, Schenectady, Smithtown, Southampton, Staten Island, Syracuse, Tonawanda, Troy, Union, Utica, Watertown, West Seneca, White Plains, Yonkers and all other NY cities. Also see Delaware Shopping Center And Strip Mall Insurance, Pennsylvania Shopping Center And Strip Mall Insurance, California Shopping Center And Strip Mall Insurance, New Jersey Shopping Center And Strip Mall Insurance, Kentucky Shopping Center And Strip Mall Insurance, Texas Shopping Center And Strip Mall Insurance, Illinois Shopping Center And Strip Mall Insurance


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