If you own a property free and clear, are not worried about having you back sued and have all the money to burn when you property is destroyed through some casualty, then insurance is not likely required.
However, if there is any concern about protecting your property for yourself, your family and your estate, as well as lenders and others with an interest in the property you can be sure insurance is required for commercial properties. In most cases the lender will want to see a certificate of property insurance in place at the close of escrow.
There are several major commercial property insurance providers. You should contact a good insurance broker to get solid quotes. You may be amazed how a professional in that field can help you save some money on your insurance package.
Onward and upward Justin.... Rob Baird, CA RE License #544165 (One of the oldest, active licenses in CA) 951 515-5855 Email: firstname.lastname@example.org
Apr 21, 2011