At King Street Agency, we are pleased to offer commercial real estate insurance that suits the unique needs of the property owners of Charleston. The risks we face in the Carolinas are different from other parts of the country, and we can help you find the coverage you need—no more, no less. Discover how commercial real estate insurance can cover a variety of risks, and request a quote today.
Why Property Owners Need Real Estate Coverage
Owning property means you have a massive investment that comes with a lot of financial risk. The right types of coverage can mitigate these risks so you can focus on maximizing your investments. Explore some of the key reasons why a property owner would need real estate coverage for their commercial properties:
Mitigate Financial Risk
Disasters, crimes, and structural failures can result in costly damage to the properties you own. This can happen when you least expect it, but options like commercial property insurance can leave you well-prepared.
Coverage for Vandalism and Other Crime
Vandalism and arson are major crimes that can affect your property and business. Both of these can be covered by real estate insurance, leaving you protected against costly and embarrassing damage.
- A single act of vandalism costs businesses an average of $3,370.
- Vandalism can damage the reputation of business owners.
- Your need for coverage will depend heavily on your property’s location.
Have Repair Funds When You Need Them
Destruction to commercial property can cost thousands of dollars in repairs, regardless of the cause. The time that your business is out of commission can mean rent checks that aren’t coming in and customers who aren’t placing orders. Business income insurance is a solution that may be ideal for some property owners in the Charleston area.
Aid in Case of Natural Disasters
Every part of the United States has its own concerns when it comes to natural disasters. For the Carolinas, hurricanes are a consistent threat. From hurricane Florence hitting the Carolinas in 2018 to hurricane Dorian a year later, these storms touch our shores causing millions of dollars in damage.
Property owners along the coast can secure their properties with hurricane insurance coverage. When the next big storm strikes, this coverage can ensure that you have the funds to keep your business running and your people safe.
Know Your Options
Not every property owner will need the same type of real estate coverage. Plus, factors like location and the likelihood of different threats can affect the optimal amount of coverage you may need. Our knowledgeable agents at King Street Agency can help you determine which type and amount of coverage is right for you:
Commercial Property Coverage
Arguably, the most crucial type of coverage for property owners will be commercial property insurance. This covers all of the following risks associated with your commercial property:
- Contents within the building, including inventory and supplies
- Repairs to the building itself
- Items that the business is responsible for, like employees’ computers
Very likely, commercial property coverage will be the first type of real estate insurance you’ll want to purchase. Learn more.
Flooding is common in areas that are prone to storms and hurricanes, and a single flood can cause thousands of dollars in damage. We’ll help you assess the risk of floods in your location so you know exactly how much flood insurance is best. Learn more.
If your business depends on equipment to keep operations running, this coverage can mitigate the risk when it sustains damage.
As a property owner, you assume certain responsibilities for the well-being of people on your premises. General liability insurance can help protect against financial damage in these situations.
Business Income Insurance
Many businesses depend on a regular stream of income to keep operations running. Business income insurance ensures that you’ll have the funds you need when tragedy strikes.
Most property owners will benefit from a combination of different types of real estate coverage. Consider pre-planned packages or combining various types under an umbrella insurance plan. Learn more.
Contact King Street Agency Today
As residents of the Charleston area ourselves, King Street Agency knows your needs from first-hand experience. Our goal is to provide the right types of coverage you need and to guide you to a decision you’re happy with in the long term. Contact us today to discuss your commercial real estate coverage needs.