BEST CRE INSURANCE BROKERS
COMMERCIAL REAL ESTATE INSURACE
About: Farmers has spent 90 years putting customers first. Each commercial property is unique, and a Farmers agent can show you a full menu of business insurance options to help manage specific risks.
Services: Property, Liability, Crime, Auto, Workers' Compensation, Umbrella, Life, Loss Control
Phone Number: 1-888-327-6335
Main Office Address: 6301 Owensmouth Avenue, Woodland Hills, CA 91367
About: As one of the largest commercial property writers in the U.S., you can trust that Travelers has a deep understanding of your everyday challenges as well as the expertise, and resources to help keep your operations running smoothly.
Services: Construction Insurance, General Liability, Environmental Liability Insurance, Management & Professional Liability, Surety Bonds, Workers Compensation, and Inland Marine.
Phone Number: 1-866-233-4842
Main Office Address: One Tower Square, Hartford, CT 06183
About: Underwriting human achievement is the core of what they do. Hartford puts their belief into action by ensuring individuals and businesses are well protected and they go even further – making an impact in ways that go beyond an insurance policy.
Services: Construction Insurance, Contractor Insurance, Architects Insurance, Engineering Insurance, and Commercial Property Insurance.
Phone Number: (860) 547-5000
Main Office Address: 690 Asylum Avenue, Hartford, CT 06155
About: Nationwide, a Fortune 100 company based in Ohio, is one of the largest insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor’s and provides a full range of insurance and financial services products
Services: Commercial Property Insurance
Phone Number: 1-888-490-1549
Main Office Address: One Nationwide Plaza, Columbus, Ohio 43215
About: Marsh, a global leader in insurance broking and risk management, teams with its clients to define, design, and deliver innovative industry-specific solutions. Marsh serves commercial and individual clients with data-driven risk solutions and advisory services.
Services: Aviation & Aerospace, Chemical Communications, Media & Technology, Construction Education, Energy & Power, Environmental, Financial Institutions, HealthCare, Hospitality & Gaming, Infrastructure
Phone Number: +44 20 7357 1000
Main Office Address: 1166 Avenue of the Americas, New York, New York 10036
About: Allstate helps people realize their hopes and dreams through products and services designed to protect them from life’s uncertainties and to prepare them for the future.
Services: Commercial Property Insurance, General Contracting, General liability protection, Landlord Insurance, and Professional Service Insurance.
Phone Number: +1(847)402-5000
Main Office Address: 2775 Sanders Road, Northbrook, IL 60062
ProSight Specialty Insurance
About: ProSight is a P&C insurance company that delivers specialized solutions to customers in niche markets through limited, exclusive distribution partners. ProSight was founded in 2009, with a focus on niche markets where we have differentiated underwriting and claims expertise.
Services: Specialty Insurance, Property & Casualty Insurance, Live Events Insurance, Marine Insurance, Professional Liability Insurance, Construction Insurance, Transportation Insurance, Liability Insurance, Business Insurance, and Commercial Insurance
Phone Number: +1(973) 532-1900
Main Office Address: 412 Mt. Kemble Avenue, Suite, 300C, Morristown, NJ 07960
About: Hiscox USA is a growing specialty insurance company with offices across the US. Hiscox encourages courage among their customers, partners, and employees and challenges US businesses to do more and be more.
Services: Professional Liability Insurance, General Liability Insurance, Errors & Omissions Insurance, Specialty Insurance, and Construction Insurance.
Phone Number: +1(866) 283-7545
Main Office Address: 520 Madison Avenue, 32nd Floor, New York, NY, 10022
About: As a part of Warren Buffett’s Berkshire Hathaway insurance group, their approach is to help you find the coverage that’s right for your business right now. As your business grows, they offer the added insurance products that you need so your coverage grows with you.
Services: Commercial Insurance, General Liability, Property and Liability, Umbrella, and Workers’ Compensation.
Phone Number: +1(877)308-8164
Main Office Address: 1314 Douglas St #1400, Omaha, NE 68102
About: Chubb is the world’s largest publicly traded property and casualty insurer.
Services: Commercial Property, Casualty Insurance, Personal Accident, Supplemental Health Insurance, Reinsurance, and Life Insurance to a diverse group of clients.
Phone Number: +1(415) 273-6300
Main Office Address: 455 Market St #500, San Francisco, CA 94105
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How to Choose Your Commercial Real Estate Insurance Providers
Commercial real estate insurance is a vital component of risk management for property owners, landlords, and businesses involved in the real estate industry. It protects against potential financial losses resulting from property damage, liability claims, and other unforeseen circumstances. Choosing the right insurance provider for your commercial real estate is a crucial decision. This guide will walk you through the essential steps and factors to consider when selecting a commercial real estate insurance provider.
Assess Your Insurance Needs:
Before choosing an insurance provider, evaluate your specific insurance needs. Consider the type and size of your commercial property, the nature of your business, and any potential risks or hazards associated with your property. Identify the coverage types you require, such as property insurance, general liability insurance, business interruption insurance, or specific policies for unique risks (e.g., flood insurance).
Research Potential Insurance Providers:
Conduct thorough research to identify potential insurance providers that specialize in commercial real estate insurance. Seek recommendations from trusted sources, such as industry peers, business associations, or insurance brokers. Use online resources to gather a list of reputable providers, review their websites, and check their customer reviews and ratings.
Evaluate Financial Stability:
It's crucial to choose an insurance provider with a strong financial foundation. Look for companies that have a solid track record, high ratings from independent rating agencies (such as A.M. Best or Standard & Poor's), and sufficient financial reserves to pay out claims. A financially stable provider ensures that your claims will be paid promptly and your coverage remains secure.
Consider Experience and Expertise:
Commercial real estate insurance can be complex, so it's essential to select an insurance provider with experience and expertise in this field. Look for providers who have a deep understanding of the real estate industry, including knowledge of local regulations and specific property risks. Consider the number of years the company has been in business and their track record in handling claims and providing quality customer service.
Compare Coverage Options:
Review the coverage options offered by each insurance provider. Ensure that their policies align with your specific needs and provide adequate protection against potential risks. Look for comprehensive coverage that includes property damage, liability, loss of income, and any additional coverage you require. Pay attention to policy exclusions, deductibles, and limits to understand the extent of coverage provided.
Evaluate Customer Service:
Excellent customer service is crucial when dealing with insurance claims and policy management. Research the reputation of the insurance providers regarding their customer support and claims handling process. Read customer reviews, check if they have a dedicated claims department, and assess their responsiveness and willingness to assist during emergencies.
Request and Compare Quotes:
Contact the shortlisted insurance providers and request detailed quotes for the coverage you need. Ensure that the quotes include all relevant information, such as coverage limits, deductibles, and any additional fees or endorsements. Compare the quotes side by side to evaluate the cost-effectiveness of each policy and determine if it aligns with your budget.
Assess the Claims Process:
Understanding the claims process is crucial before finalizing an insurance provider. Inquire about their claims reporting procedures, how they handle claims, and the average time it takes to settle claims. Consider whether they have a dedicated claims team and if they offer 24/7 claims support. A smooth and efficient claims process can significantly impact your experience in the event of an incident.
Check for Professional Indemnity Insurance:
When selecting an insurance provider, verify if they carry professional indemnity insurance. This coverage protects you in case the provider makes a mistake or fails to fulfill their obligations. It adds an extra layer of protection and ensures that you have recourse if the insurance provider is negligent in their services.