Insurance companies may consider:
- Building replacement cost
- Square footage
- Construction type
- Building age
- Roof age
- Electrical system
- Plumbing
- HVAC
- Sprinkler system
- Fire alarms
- Central station alarms
- Distance to fire hydrant
- Distance to fire department
- Occupancy
- Tenant type
- Vacancy
- Claims history
- Geographic location
- Crime exposure
- Flood exposure
- Severe-weather exposure
- Number of units
- Rental income
This is why two buildings with the same market value can have very different insurance premiums.