Commercial property insurance, also known as commercial casualty insuranceis a necessity with securing commercial mortgages. Essentially the insurance protects the lenders collateral, ie your building, from damages. Though you may rightfully asked yourself why you should pay extra for a service that is designed to protect another parties interest, you simply will not be able to secure any type of financing unless you can prove that you, and the lender are adequately protected. Commercial property insurance is expensive and complex. It pays to throughly shop.
