Insurance for a small commercial property portfolio

When you own one or a few commercial buildings, your insurance can become a collection of decisions made at different times. You bought the first property, added another a few years later, changed a tenant and renewed each policy as it came due. It makes sense to step back occasionally and review how those policies fit the properties you own today.

Burch Insurance Group helps you bring those details into one conversation. We review your buildings and current coverage, discuss what has changed and compare available options. You do not need a large portfolio to benefit from that review.

Call (612) 712-6407 or request a commercial property review.

Start with a clear list of what you own

For each property, bring the address, ownership name, current policy and renewal date. Add the tenants and their activities, any empty space, recent building improvements and work you expect to do. If different companies own different buildings, include those names rather than assuming the same ownership information applies everywhere.

You can start with a simple list:

• Property address and the company or person that owns it.
• Current policy, renewal date and lender requirements.
• Building information, including size, construction and roof updates.
• Tenant uses, vacant areas and planned renovations.
• Rental information and any recent claims.

The purpose is to make it easier to discuss each building without losing sight of the portfolio as a whole.

Look at the terms behind each premium

A lower premium is useful only when you understand what you are buying. Review the building limits, valuation terms and deductibles, along with any limitations that matter to how the property is used. Ask what income coverage would apply after a covered loss and how its limits and time provisions work.

For background on values and covered property, see the Minnesota Department of Commerce property-insurance guide. Your own policy terms control the coverage.

If the properties are insured separately, ask your agent to explain the differences. If a combined arrangement is available, ask the same questions about each location and any limits that apply across the policy. The best arrangement depends on the buildings and the options available; putting everything together is not automatically the right answer.

Revisit the market before the renewal becomes routine

At BIG, we proactively take our clients' insurance back to market every two to three years to compare coverage, deductibles and price. We also want to hear about changes as they happen, rather than waiting for that market review.

For example, tell us when you purchase another building, plan renovations or expect a tenant's use to change. Those updates give us the information to discuss whether your current arrangements still fit. A market review may support keeping the current coverage or considering another option. It does not guarantee a lower premium.

Questions property owners often ask

Can you review just one or two buildings?

Yes. Start with the properties you own and what you want to understand about the insurance. We can discuss the account and available options without requiring a particular portfolio size.

Do all my buildings need to be on one policy?

That is a question to review, not an assumption to make. Share the ownership, use and current insurance for each building so we can discuss the available arrangements and their differences.

What if a renewal is approaching and my records are incomplete?

Send the policy and property information you have, along with the renewal date. We will identify the remaining questions and discuss the timing of the review.

Talk through your portfolio with BIG

Whether you are reviewing one retail building or several properties, start with a conversation about what you own and what has changed. Call (612) 712-6407 or request a review online.

You can also read our commercial property overview and building-values worksheet.

Availability and terms depend on the property, state and underwriting.