Start with how the operation works
Commercial real estate programs work best when property values, lease requirements, income, and portfolio-wide liability are coordinated. For general liability, general liability planning starts with how customers, vendors, tenants, and the public interact with the operation.
Operating details to document
- Statement of values with occupancy and construction
- Leases, management agreements, and ownership entities
- Net operating income, capital improvements, and vacancy details
Coverage details to review
- Premises and ongoing operations liability
- Products and completed operations where applicable
- Contractual requirements and additional insured obligations
- Defense costs, occurrence limits, aggregates, and deductibles
Look for Gaps Before a Loss
A useful review goes beyond selecting a policy name. It connects current information to eligibility, policy structure, and the consequences of a significant loss.
- Compare current operations with classifications and named locations
- Review exclusions, sublimits, waiting periods, and coverage triggers
- Coordinate this policy with contracts and other insurance
Property and catastrophe damage
Confirm how this applies to the operation, how it is represented in the application, and where the policy addresses or excludes the exposure.
Premises and ownership liability
Confirm how this applies to the operation, how it is represented in the application, and where the policy addresses or excludes the exposure.
Income loss and changing replacement costs
Confirm how this applies to the operation, how it is represented in the application, and where the policy addresses or excludes the exposure.
Premises and ongoing operations liability
Confirm how this applies to the operation, how it is represented in the application, and where the policy addresses or excludes the exposure.
Products and completed operations where applicable
Confirm how this applies to the operation, how it is represented in the application, and where the policy addresses or excludes the exposure.
Contractual requirements and additional insured obligations
Confirm how this applies to the operation, how it is represented in the application, and where the policy addresses or excludes the exposure.
Defense costs, occurrence limits, aggregates, and deductibles
Confirm how this applies to the operation, how it is represented in the application, and where the policy addresses or excludes the exposure.
Information to have ready
- Statement of values with occupancy and construction
- Leases, management agreements, and ownership entities
- Net operating income, capital improvements, and vacancy details
- Annual revenue and a clear description of operations
- Customer-facing activities and off-premises work
- Contracts, leases, and certificate requirements
- Currently valued loss history when available
Questions for the coverage review
Do leases and policies allocate responsibility consistently?
Document the answer and compare it with the application, quote, endorsements, limits, deductibles, and contractual requirements.
Are vacant or renovation properties identified?
Document the answer and compare it with the application, quote, endorsements, limits, deductibles, and contractual requirements.
Could one catastrophe affect several portfolio locations?
Document the answer and compare it with the application, quote, endorsements, limits, deductibles, and contractual requirements.
Do all disclosed activities fit the policy classification?
Document the answer and compare it with the application, quote, endorsements, limits, deductibles, and contractual requirements.
Which contracts require special limits or endorsements?
Document the answer and compare it with the application, quote, endorsements, limits, deductibles, and contractual requirements.
Frequently asked questions
Who should use this commercial real estate general liability guide?
Business owners and insurance buyers can use it to prepare for a focused review of coverage alignment. It is educational guidance, not a quote or a substitute for policy terms.
What information should a commercial real estate account gather first?
Start with statement of values with occupancy and construction, leases, management agreements, and ownership entities, net operating income, capital improvements, and vacancy details, plus currently valued loss information when available.
Coverage descriptions are general. Eligibility, availability, limits, deductibles, exclusions, and policy terms vary by risk and market. Review actual policy documents with an appropriate insurance professional.