How does commercial property insurance differ from residential property insurance?

001

Top Answer
User Avatar
Wiki User
Answered
2010-04-09 22:22:37
2010-04-09 22:22:37

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.

001
๐ŸŽƒ
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0
User Avatar

Related Questions


Condo Launch SG is committed to provide the best property advice for everyone. We are offering the best and latest Property launches, Condos sale, showflat, Overseas, Industrial, Mixed Developments, residential, commercial or any executive properties since last many decades in Singapore.


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


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.


Life insurance companies tend to be working with more money than property and casualty insurance, in most cases.


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.


Commercial vehicle coverage will cost more. It has to cover any person driving and the more likely lawsuits against companies.


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.


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.).


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.


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.


"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."


Life insurance is not based on risk pooling.


Getting a life insurance is a good thing to protect you and your loved ones.


Depends why the driver lost control - weather incidents are always at fault. If there is another party involved, this may differ.


That depends on the individual contract. Insurance products differ.


When it comes to property insurance there are several factors one must consider. One of these factors is always the cost. It will differ from customer to customer depending on needs , value and of course what one is able to afford. Whether cheapest is always better comes down to opinion of the customer them self.


There are companies that solely do residential plumbing. They are most likely independent companies that are easy to locate. Residential and business plumbing greatly differ, so there are companies that are not prepared to try their hand at business plumbing.


Not really, each company differ in the states they operate in and some are international. Liberty Mutual is now operating in China. In the United States, all insurance companies are regulated by each individual states. You can check your state's department of insurance to see if they do individual ranking.


That is usually determined by the laws of the state in which the residential property is located. In some instances the mortgage holder will refer to the terms of the original contract, but the homeowner can, ask assistance fromt he court if the alloted times greatly differ.


The Butler Insurance Service has many policies. They have auto insurance, homeowners insurance, life insurance and business insurance. However the policies differ from state to state.



Like other vehicle insurance, van insurance can be broken down into three general categories. These are Fully Comprehensive Insurance; Third Party, Fire, and Theft Insurance; and third party insurance.


Some aspects of insurance coverage that can differ by state are: Auto Liability, Medical Payments, Uninsured Motorist, Rental Reimbursement and Emergency Road Services.


Landlord insurance will differ state to state, so check the site of your insurance company or call them for recommendations for a local company who offer landlord insurance


If the driveway is on private property then in most states it is considered private property. Though laws differ still per state on this.



Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.