Good morning all. I am planning on buying a mixed-use property in Albany. Commercial property on first floor with two residential units above. Any idea on how much a yearly policy may cost? Estimates
@Keshia Romelus That is going to vary greatly depending on a lot of factors including location, size of building, number of stories, age of structure, type of construction, purchase price, etc. The best thing to do is to have all of that information ready and call an insurance company to get a quote.
That question is so broad. Insurance language is always about coverage amount (replacement cost) and level of liabilities on the property.
In order to get a true sense I would call local brokerage and just shop the property around.
This is as if you were asking how much do houses cost in Albany NY, too vague and too many variable for a meaningful answer.
Thank you so much!!
@Keshia Romelus Call Alex at Stonebuilt insurance, he's local and handles all my commercial policies, https://www.stonebuiltinsurance.com/.
Thank you so much
What is the commercial business on the first floor and are they 50% or more of the sq footage. That info may suggest some insurance companies that would be good.
Can someone else chime in here please? There's not enough replies. I have a 3500 sq foot mixed use with 500 sq ft of commericial