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How does commercial property insurance differ from residential property insurance?
Wiki User
∙ 14y ago
Commercial property insurance is often higher because the space in question is being used for a business that may or may not fail. However, residential property insurance applies directly to the resident or owner and is less risky.
Wiki User
∙ 14y ago
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How do commercial properties differ from residential properties?
Commercial property recieves income from a non-residential source. i.e. Shopping malls, grocery stores A residential property is one that gets all of it's money from residential dwelling. i.e. rental houses, houses etc. But large apartment buildings are considered to be commercial because they are assumed to have been built for monetary purposes instead of just residential living.
How do commercial leases differ from residential leases?
Commercial leases are generally locked up for a much longer term then residential leases, and it's much, much harder to break a commercial lease. One big difference between commercial leases and residential leases that a lot of people don't realize is that commercial leases are not subject to many of the consumer protection laws that residential leases are. Make sure you know what you're getting into before signing. Most commercial leases are NNN which require the lessee to pay all utilities, insurance, and property taxes. Most residential leases are on a Gross rental basis and do not directly pay NNN charges. Commercial Appraiser http://www.harriscompanyrec.com
How does commercial landscaping differ from residential landscaping?
Differing from residential landscaping: what a beaut of an idea***Residential landscaping is the process of designing, maintaining and installation of landscape for your home. Whereas commercial landscaping services are for commercial and/or public enterprises.
How do portfolios of life insurance and property and casualty insurance companies differ?
Life insurance companies tend to be working with more money than property and casualty insurance, in most cases.
What are the best insurance companies for business vehicles?
Different insurance companies have various policies regarding the insurance your vehicle requires. Depending on the weight of the truck, you may need commercial truck insurance. Check with your current insurer, as it can also differ by state.
How do the rates for commercial vehicle insurance differ from standard auto coverage?
Commercial vehicle coverage will cost more. It has to cover any person driving and the more likely lawsuits against companies.
How commercial cooking differ from other types like home cooking?
There very strict laws surrounding commercial cooking that control the storage, preparation and cooking of food. You will also need to have insurance and a licence.
How does preimum differ from proceeds in insurance?
The term "premium" relates to the incremental cost of buying and maintaining the insurance on the person or property insured. "Proceeds" relates to the benefits paid by the insurer upon the happening of the event that was insured against (death, disability, damage to property, etc.).
Is state auto insurance mandatory in Florida?
In Florida, auto insurance policies differ greatly from other states. The required insurance includes Property Damage Liability, Personal Protection Insurance and Personal Injury Protection. Things such as Collision and Comprehensive coverage are not mandatory in Florida.
If a fox bites someone on your property can you claim it on your homeowner's insurance?
No. A property owner is not be liable for the acts of a wild animal they do not own. Your homeowners insurance would offer no coverage. The persons own medical insurance would cover their injuries.AnswerAs all policies differ, read the terms, conditions and exclusions. Failing that, call the company that issued the policy.
How does motor bike insurance differ from regular insurance?
"In many ways, motorcycle, dirt bike, and motocross insurance is very similar to regular automobile insurance. The different insurance options that vary from region by region and market by market can offer coverage for injuries to the rider and others, damage to property, and damage to the bike and its parts."
Does auto insurance cover damage of driving into one's property?
Depends why the driver lost control - weather incidents are always at fault. If there is another party involved, this may differ.
