Shopping Centers
Insurance Solutions

What is a Shopping Center package policy?

A Shopping Center insurance package policy is a type of insurance policy that provides coverage for various risks that shopping centers may face. This policy typically includes coverage for property damage, liability claims, loss of income, and other potential risks that may arise. This type of policy is designed to protect shopping center owners and operators from financial loss in the event of a covered incident. It can provide peace of mind to shopping center owners and help them to mitigate the financial risks associated with running a commercial property.

What insurance coverages are available for shopping centers?

There are several types of insurance coverages available for shopping centers, including:

Lessor's Risk

Lessors risk for shopping centers is a type of insurance policy that provides coverage to property owners who lease out their shopping center space to tenants. This type of policy typically covers damage or loss to the property, as well as liability protection for the property owner in case of accidents or injuries that occur on the property. The coverage and limits of a lessors risk policy for shopping centers can vary depending on the specific needs of the property owner and the tenants. It may also include coverage for tenant improvements and betterments, which are permanent additions or upgrades made to the leased space by the tenant.

Commercial Property Insurance

Commercial property insurance for shopping centers is a type of insurance policy that provides coverage for the physical assets of shopping centers, such as buildings, equipment, inventory, and furniture, against damage or loss caused by covered perils, such as fire, theft, vandalism, and natural disasters. This type of policy can also provide coverage for business interruption, which compensates for lost income and other expenses if the shopping center is temporarily unable to operate due to a covered loss. The coverage and limits of a commercial property insurance policy for shopping centers can vary depending on the size and nature of the shopping center, as well as the specific needs of the property owner.

General Liability

General liability coverage for shopping centers is a type of insurance policy that provides protection to shopping centers and their tenants against claims of bodily injury or property damage arising from their operations or premises. This type of policy typically covers a wide range of risks, including slip-and-fall accidents, property damage caused by tenants or customers, and product liability claims against tenants. The coverage and limits of a general liability policy for shopping centers can vary depending on the size and nature of the shopping center, as well as the specific needs of the property owner.

Business Interruption Insurance

This coverage compensates for lost income and other expenses if the shopping center is temporarily unable to operate due to a covered loss, such as a fire or natural disaster.

Crime Insurance

This coverage protects against losses due to theft, burglary, robbery, or other criminal acts committed against the shopping center or its tenants.

Workers' Compensation Insurance

This coverage provides benefits to employees who are injured or become ill while working at the shopping center.

Umbrella Insurance

This coverage provides additional liability protection above and beyond the limits of other insurance policies that the shopping center may have.

Contact an insurance agent for more information

The specific insurance coverages needed for a shopping center can vary depending on the size and nature of the property, as well as the specific risks and needs of the property owner and its tenants. An insurance agent can help you understand the different types of insurance available, assess your risks and coverage needs, and recommend policies that best fit your business.

For more information about insurance solutions for your business, talk to an insurance agent. They can help you determine how much coverage you need. Contact us to help you find an insurance agent in your area.