Commercial property
When you own a building or lease space for your business, you want to know what the insurance will cover before something goes wrong. Tell BIG about the property and how you use it, and we can help you compare the coverage, limits and deductibles.
BIG maintains its Edina, Minnesota location and serves clients in Minnesota and New Mexico by phone and online. Founder Darren Burch is based in Albuquerque.
Two quotes can look similar until you get into the details. We can walk through them with you so you understand what you are buying before comparing the premium.
Bring your current policy and renewal date, or the closing date and lender requirements if you are buying. Tell us about the tenants, roof and work you have planned so the review reflects what is happening at the property.
For New Mexico owners, start with our building purchase guide or tenant-change guide. You can also learn about working with BIG in Albuquerque.
The purchase price alone does not tell you what it would cost to rebuild. We can review the construction, building details and valuation terms with you. Our building-values worksheet helps you gather the information.
Do not assume it does. Tell us who owns the equipment and improvements, and share the lease so we can review the coverage responsibilities.
Why this coverage matters
A fire, storm, or other covered event can damage the structure and the assets that keep the business running. Inventory, equipment, tenant improvements, and records often represent as much exposure as the walls around them.
If the property cannot be used while repairs are underway, lost rent or operating income can follow. A review looks at the building, the contents, and the time it would take to reopen, then matches those values to available markets.
Minnesota retail property owners
Start with a current tenant schedule, leases, building values and the existing policy. Compare the same facts and coverage terms before comparing premium.
List building ownership, tenant improvements, equipment and inventory separately. Minnesota Commerce cautions tenants not to rely on a landlord's policy for their business property. Review the lease alongside each policy rather than assuming responsibilities match.
Bring tenant uses, occupied and vacant units, roof and system updates, and current rent records. Identify who maintains sidewalks, parking areas and shared spaces. Ask how tenant changes or vacancy should be reported, and discuss liability exposures separately from building coverage.
Ask about replacement cost versus actual cash value, deductibles, exclusions and rental-income terms. Confirm the covered causes of loss, waiting period and restoration period instead of assuming every interruption is covered.
Next step: gather those records, mark any unknowns and use the existing commercial property review form. For a warehouse, use our warehouse comparison guide; for pricing factors, see Minnesota commercial property insurance costs.
Reference checked September 25, 2026: Minnesota Commerce property insurance guidance. This guidance explains coverage considerations. Coverage depends on the actual policy and underwriting.
Coverage overview
These are the parts of the risk we walk through with owners, managers, and boards. Limits and forms vary by property and carrier.
Coverage for the physical structure, including office buildings, warehouses, and other commercial construction. The review looks at occupancy, construction type, updates, and replacement cost, not just the mortgage amount.
Equipment, inventory, furniture, and other business assets inside the premises. This is separate from the building and is often the piece that is understated on a statement of values.
Income or rental value that continues after a covered loss makes the property unusable. The question is how long operations would be down, and whether extra expense to reopen faster is part of the plan.
HOA and condo master policies, and office buildings with tenants, need a clear read of what the association covers versus unit owners or tenants. Boards that need a dedicated Minnesota association review can start on the HOA and condo insurance page.
Details
Open a section for exclusions, certificates, underwriting information, and related coverage. The main points of the review stay above.
What does commercial property insurance generally address?
It generally covers the building, the business personal property inside it, and lost income when a covered event interrupts operations. The exact perils, limits, and deductibles depend on the policy and the property.
Equipment breakdown is often added when mechanical or electrical systems are material to the operation. Flood and earthquake are typically separate.
What is usually excluded or left as a gap?
Standard commercial property policies typically do not cover flood or earthquake. Equipment breakdown often needs to be added. Liability for injury to others is a separate coverage. Review the form, endorsements, and any lender or board requirements before assuming a loss is covered.
When is a certificate of insurance or additional insured request needed?
Lenders, landlords, and association boards often ask for a certificate as proof of current coverage. A certificate describes the policy; it does not change it. If a contract also asks to add a party as an additional insured, that is a coverage change and may require carrier approval.
Existing clients request certificates through certificates of insurance.
What information is typically needed for a review?
Ownership or occupancy details, construction and occupancy of the building, square footage, updates, current values for the building and contents, loss history, and any lender, board, or lease insurance requirements.
Injury or damage to others is general liability. A package for some smaller operations is on business insurance. Association boards can use the dedicated Minnesota HOA and condo page rather than treating this page as a substitute.
Where is the office and what is the phone number?
Our Edina location and mailing address is 5021 Vernon Ave S #161, Edina, MN 55436. We work with clients by phone and online. Call (612) 712-6407 or request a review online.
Do you place commercial property insurance outside Minnesota?
Minnesota is our home market. Coverage is placed through available carrier markets where the agency is licensed, including New Mexico.
Excellent experience working to get the optimal insurance coverage for my company. Timely and effective communication and available for consultation. I referred my associate to Burch and highly recommend to all future customers.
How a review works
Ownership, occupancy, construction, values, and any lender or board requirements.
The team looks at the exposure and available commercial markets for that property.
You receive options, questions, and next steps from a person who stays on the account.
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Share the building, occupancy, and timing. We will review the risk and follow up with next steps.
