Types Needed for Commercial Property:

- Property damage insurance will help protect your investment if your building is damaged or destroyed by fire or other causes

- Public liability coverage will protect you if someone is hurt in the building and sues you.

- Rent interruption insurance will make sure you do not lose rental income while you are repairing damage caused by a fire or tornado.

- Title insurance guarantees that you are receiving full legal ownership of the commercial property that you are buying. If a lien later shows up or it turns out some other property owner has the right to use your parking lot, you can sue the title insurance company to recover any loss that you have suffered. Having a title insurance policy takes much of the legal risk out of buying a building. Usually the seller pays the insurance premium for this coverage but sometimes it is paid by both parties or the buyer alone.