answersLogoWhite

0


Best Answer

It all depends on what the building is used for, where it's located, the type of structure (wood frame, metal, masonry, and how many stories. For instance, I just quoted an apartment building of 6 units with a total square footage of 5,400 and the replacement cost coverage came out to $690,000 or approx $128.00 per square foot. On the other hand, A warehouse may only come out to 50 or 60 dollars per square foot. All buildings are not the same and will require an evaluation of it's construction cost.

Answer

Property: While you can certainly calculate out the insurance rate per sq ft - - property insurance premiums are based on value (the rat is developed based on protection, location, use / occupancy, construction, etc...). Regardless, it is a rate per $100 of value.

Liability: Depends on the class of business... but speaking pure real estate the rate is based on sq ftg.

User Avatar

Wiki User

โˆ™ 2014-03-27 00:24:07
This answer is:
User Avatar
Study guides

Nutrition

22 cards

If you were laid off and apply for insurance coverage on your wife's group policy do you have to answer a medical questionnaire

How many grams of cholesterol should you eat each day to maintain a healthy diet

What would cause a fluttering inside the ear canal

Why is beef fat a solid at room temperature

โžก๏ธ
See all cards
4.33
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
6 Reviews

Add your answer:

Earn +20 pts
Q: What is an adequate square foot rate for insurance on a commercial building?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is the average cost of utilities per square foot in a commercial building?

10.00


What is the average cost per square foot for interior demo of a commercial building?

About $ 11,140.


What is the average cost per square foot for leasing a commercial building in Cheyenne WY?

To lease a commercial building the average cost per square foot is between $16.00 to $20.00. Depending on what may need to be done to the building, such as insulation, the price can go up to $30 to $40 per square foot.


What is the cost per square foot for a new roof on a commercial building?

The average cost of a new roof in a commercial building is approximately $150-250 per square foot. This cost varies by location and includes materials and labor.


What is the cost for a commercial air conditioner for a five thousand square foot building?

The cost of a commercial air conditioner for a 5000 square food building can easily cost more than 7,000 dollars. Such models would normally go through the ceiling into other parts of the building.


Square foot commercial construction costs?

What are the square foot construction costs for a 3-story condo building and a 10-story condo building in Chandler, Arizona ? - Terry


What is the average cost per square foot to renovate a commercial building in North Carolina?

6500 sq ft remodel on commercial property


How much does it cost to make a commercial steel building?

The cost to make a commercial steel building depends on many factors, such as the square footage, the price of materials, the cost of the concrete foundations, the steel building labor costs, etc.


How much does it cost per square foot for a commercial building in new york city?

Depending on the location, it can range from $50 to $300 per square foot. New York City is a big city and it depends on where exactly you want to build this commercial building.


Commercial construction average cost per square foot Arizona?

The commercial construction cost per square foot in Arizona will average at about $101 per square foot. This means a 3,000 square foot building should cost about $300,000 to build.


How much is the cost per square foot to build a commercial building?

how much does it cost for a 30-40 commerical building 6 inches thick


What is the average insurance rate for 3 story commercial building in prime area?

story's and "prime area" have nothing to do with the rate. The construction material, square footage, and proximity to a fire department are just a few of the rating factors a company will look at. As well as what type of business is occupying the building.

People also asked