Insurance Factors to Consider when Purchasing a Building

Contributing Author: Mark Rogina, CPCU

There are multiple factors to consider when purchasing a commercial property.  Price, location, functionality, and taxes are certainly a few of the factors a prospective building owner will consider when purchasing a property, but another factor that should be considered will be the cost to insure the building itself.  In this article, we’ll focus only on factors as it relates to the property insurance itself for a new building, ignoring the needs for other important coverages for the building such as general liability.

When reviewing a building for commercial insurance, insurance companies tend to focus on the acronym C.O.P.E.  The letters in C.O.P.E. reference Construction, Occupancy, Protection, & Exposures:

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