A lot of this depends on the current condition of the building and it's fire suppression and safety features as well as roof conditions. We are seeing insurance rates increase as cost to replace these items increases (inflationary factors). Say on apartment buildings insurance costs used to be around $225/unit/year which now we've seen about a 10% bump in the cost over a 24 month period to around $250/unit/year.
Retail, industrial and office again vary widely, but have gone up over the past 24 months. Best to get a good insurance broker, check it annually for pricing as being complacent on your insurance costs is one of the most common mistakes of a property owner and can cost you dearly.
Feb 12, 2013