Determining what type of commercial property-liability insurance you need is an involved process. That’s because many factors go into complete coverage. When you’re working out what type of policy you need, make sure you are being advised by competent agents who understand both the universal risks of owning property and the specific risks associated with your portfolio.

One factor that determines the type of insurance in need is the age of any structures on your property. Older buildings are in more danger of certain types of damage. That means you’ll need different type of coverage than if you had new construction.

The size of the premises also determines the premium. You might need to carry more insurance if you have a large building, depending on other types of things you need to insure such as equipment.

Another thing to take into account is whether you operate a business of your own in your property, or whether you rent out your space to other companies. If you have your own business, you might want to think about bundling your insurance to lower your administrative task load and save some money on premiums.

If you’re still unsure of what types coverage you need , don’t worry. Insurance agents for commercial property liability insurance products are often able to assess your holdings and make appropriate recommendations.