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Commercial Building Insurance

Otterstedt Insurance Agency has been serving the insurance needs of New Jersey businesses for nearly 100 years. During that time we’ve helped businesses, just like yours, protect their investments, manage their risks, and get back on their feet after disasters of all kinds. Commercial building insurance is just one of the insurance products we offer that helps businesses get back up and running as quickly as possible when disasters strike.

What is Commercial Building Insurance?

An important component of business property insurance, commercial building insurance provides insurance protection against covered damaged for the physical building that houses your business. Covered damages include things like fire, lightning, vandalism, wind, and storm damage. Specifics will vary from policy to policy. Make sure to discuss your needs with us so that we can help you get the protection your business needs.

It helps business owners make the necessary repairs after these disasters happen so they can open their doors to employees and the public once again. This protects your business, by re-opening as quickly as possible so that your competitors aren’t able to get a foothold on your customers. It also helps to limit the loss of income resulting from being closed after a disaster occurs.

There are exclusions for what commercial building insurance. One that’s definitely worth noting in New Jersey is flood coverage.  Businesses can purchase flood insurance through the National Flood Insurance Program, but for certain businesses in certain areas, we can add elements of flood coverage through the standard insurance markets.

In order to round out a commercial building policy for the average business owner, it’s important to consider other options, such as:

  • Business Owners Policy (BOP)
  • Business Income Insurance
  • Business Personal Property Coverage
  • Building Ordinance Coverage
  • Commercial General Liability Insurance (CGL)

Commercial Building Insurance for Real Estate Owners and Managers

Some businesses are in the business of acquiring, owning, and/or leasing real commercial real estate. These include industrial buildings, office buildings, malls, and shopping centers. These buildings have great value to the owners because they house other businesses.

When covered events occur in these buildings, it is in your best interests to make the repairs quickly and efficiently for the sake of your tenants, who are the source of your income. Commercial building insurance from Otterstedt Insurance Agency can be instrumental in helping you get your buildings back in perfect condition for commerce to resume.

In this case, building ordinance coverage is an excellent add-on to your policy as it provides coverage to help you bring your building to current codes during repairs to the building after a covered loss. Most communities require entire buildings (even areas of the building that were undamaged by the event) to be completely brought up to current code in certain circumstances which can be a crippling expense for property owners. This insurance coverage helps with those costs.

Why Otterstedt Insurance Agency?

Our long history of service to the New Jersey community is only one reason that makes us a good investment for your insurance needs. The fact that we work with you to ensure your business has the insurance protection it needs to thrive is one of the primary reasons we’ve enjoyed such longevity.

We believe that by offering exceptional and personal service, we’re able to help you meet the insurance needs of your business on an individual basis. We don’t do one size fits all at Otterstedt Insurance Agency. We’ll work to make sure your individual needs are met.

Call Otterstedt Insurance Agency to get a free rate quote on your insurance needs or to have commercial building insurance and your need for it explained. We offer a wide range of insurance products for businesses and are here to help you find the perfect policy at the right price to properly cover your business.

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