Buildings containing multiple residential units or mixed residential/commercial use create additional exposures.
Property owners should review:
- Building coverage
- General Liability
- Loss of Rents
- Business Income
- Ordinance or Law
- Equipment Breakdown
- Water Backup
- Building Glass
- Crime
- Cyber coverage
- Umbrella Liability
- Workers' Compensation when employees are involved
Residential and commercial portions of a mixed-use building should be accurately disclosed to the insurance company.
Examples include:
- Apartments above retail stores
- Apartments above restaurants
- Apartments above offices
- Residential/commercial mixed-use buildings
The type of commercial tenant can materially affect underwriting.