5 CRE Insurance Blind Spots That Could Bite You

Think your brick-and-mortar is covered? Think again! Lurking in your policy are 5 hidden risks, from cyberattacks to drone crashes. Don't wait for disaster. Get savvy:

1. Cyberattacks: Hackers love buildings too. Cover your data and infrastructure.

• Example: A hacker infiltrates your property management system, stealing tenant data and disrupting building operations. Cleanup costs, fines, and lawsuits add up fast.

2. Environmental Hazards: Lead, mold, asbestos? Cleanup costs can be monstrous. Get covered.

• Example: An old building is found to have lead paint. Removing it safely and legally can cost hundreds of thousands of dollars, leaving you on the hook if uninsured.

3. Tenant Lawsuits: Even good tenants make mistakes. Protect yourself from their liability.

• Example: A tenant slips and falls on a wet floor, sustaining a serious injury. Your lack of tenant liability coverage leaves you vulnerable to a costly lawsuit.

4. Business Interruption: Fire, flood? Lost rent and wages pile up. Get covered for downtime.

• Example: A burst pipe floods your retail space, forcing closure for weeks. With business interruption insurance, you receive compensation for lost income during repairs.

5. Drone Crashes: These flying fiascos can cause big damage. Add drone coverage, just in case.

• Example: A drone loses control and crashes into your building, damaging the roof and injuring a customer. Without drone coverage, you're left footing the repair bill and potential medical expenses.

Action Time:

• Read your policy: Know what's covered (and what's not!).
• Talk to your agent: Discuss your specific risks and needs.
• Consider add-on coverage: Plug those hidden holes.

Don't let a surprise bite your wallet. Secure your CRE investment with the right insurance.

Thanks for reading.

John

[email protected]

720.926.2146