Variance and Insurance

2 Replies

Hi BP community, 

would anyone happen to know if a variance on my mixed use commercial building have any effect on my property insurance policy? 

Currently, the store space is zoned for retail and the variance would allow it to host events there such as birthdays, office parties, wakes, etc.


This is a question for your agent.  They will know your companies requirements and guidelines.  

Just being zoned for a use may not impact the rates on your policy.  However, if you are going to be using that space for events, etc. or are leasing it to someone who will be, there could be an impact on your policy.  If there are no changes to the space the rebuilding costs should be the same.  The Liability rates may change however.  Depending on who is renting the space (you or a tenant) to the groups having the events you may also need Liquor Liability and Workers Comp.

Like John said, talk with your agent.

But the type of business will most likely have an impact on how the policy is rated.  Usually it's based on multiple different rating factors because the risks for a retail differ compared to an event space.

Good luck