What Is Real Estate Insurance?
It’s only natural to protect the place where you live and work. Real Estate Insurance encompasses multiple types of property, land, and buildings coverage to meet the needs of property owners, landlords, pension funds, real estate agents, and investment groups. Whether you want to insure a residential or a commercial building, you can do it with one of the packages offered by your local real estate insurance companies.
What Does It Cover?
It can provide all types of protection of buildings of residential and commercial purpose, from standard exposures such as water and fire to more complex solutions such as natural disasters and cyber security, as well as coverage for leasing or renting building space for service businesses, retail stores, offices, etc. The actual amount of coverage depends on your needs and what your insurance provider can offer.
How Much Does it Cost?
A ballpark figure would be $1,300 a year, but the real price depends on many factors, including location and type of property, industry segment, construction characteristics of the building, as well as the type and the extent to which you want to insure your real estate.