Office buildings
Office building insurance for NYC owners
Towers, loft offices, medical offices and small professional buildings. We place property and liability for office buildings with markets that write commercial real estate, and we shop it so the coverage fits at a competitive price.
What it can cover
- Building property: structure, roof, lobbies, elevators and building systems
- Loss of rents / business income while covered damage is repaired
- General liability for lobbies, elevators, sidewalks and common areas
- Equipment breakdown for elevators, HVAC, boilers and electrical systems
- Umbrella limits above your primary liability, often required by leases and lenders
- Flood coverage for basements and lower levels
- Ordinance or law for code upgrades after a covered loss
- Terrorism and crime coverage where it fits
Who it's for
- Owners of office buildings, from small professional buildings to large towers
- Loft and converted office buildings
- Medical and professional office buildings
- Investors with office property across the boroughs
What affects your price
- Square footage, stories and construction
- Year built and updates to elevators, roof, electrical and HVAC
- Sprinklers, fire alarms and fire protection
- Tenant mix: general office, medical, restaurant or retail
- Occupancy and vacant floors
- Loss history, limits and the deductibles you choose
Coverage depends on the policy and underwriting. We'll explain exactly what your estimate includes.
The main risks
What can go wrong at an office building
These are the losses we plan the policy around. Every building is different, so we look at yours before we take it to market.
- Fire and smoke damage, including fire that starts in a neighboring building
- Water damage from burst pipes, sprinkler leaks or an aging roof
- Elevator, HVAC and boiler breakdowns that shut down floors
- Slip-and-fall claims in lobbies, elevators and on the sidewalk
- Lost rent while damaged floors are repaired and tenants can't use them
- Flooding in basements and lower levels, especially near the waterfront
- Code upgrades required after a loss in an older building
FAQ
Office building insurance questions
Does an office building need different insurance than an apartment building?
Yes. Office buildings are written as commercial property. Insurers look at square footage, tenant types, building systems and occupancy rather than unit counts, and your leases often set the liability limits you need to carry.
What is loss of rents coverage?
It replaces the rent you lose when covered damage makes space unusable and tenants stop paying while it's repaired. How much it pays and for how long depend on the policy, so we size it to your rent roll.
Do my office tenants need their own insurance?
Usually, yes. Most office leases require tenants to carry their own liability and contents coverage and name the building owner as additional insured. We can help you review what your leases ask for.
Do I need flood insurance for an office building in NYC?
A standard commercial property policy usually excludes flood. If the building is in or near a flood zone, or has equipment in the basement, it's worth looking at a separate flood policy. Send us the address and we'll look at it.
What if some floors are vacant?
Tell us the occupancy. Some policies limit coverage when a building is mostly empty, so we look for a policy that fits how the building is really used.
Why us
Buildings are the whole job.
Markets not everyone has
Access to insurance markets and programs for real estate that aren't available everywhere — more options to compare for your building.
A sharper price
We shop your building so you see what the market will really offer, and we look for savings without cutting the coverage you need.
Buildings. Only buildings.
Buildings are what we do: multifamily, mixed-use, brownstones, HDFC and co-ops, office, industrial and retail buildings, vacant buildings and renovations.
A human on every file
Every request is reviewed by a person on our team, not a pricing robot. You get an estimate you can actually rely on.
Own a commercial building? Send us the details.
Office, industrial or retail: one form, a few minutes. We shop our markets and email you an estimate after a real review.