Whether you are a shopping strip or mall owner in NY, NJ, PA or any other state within the US, national focus on such property has left many wondering if the insurance that is in place is adequate. Below is a general guide.

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Shopping Mall Insurance
Every shopping center has its distinguishing characteristics. This is what the insurance companies think about when deliberating the type of necessary coverage. If property limits are very high, a shopping center may be deemed a specialty insurance risk.

Evaluation takes into account:

• Elevated concentration of building and content value
  
  
• Particularly large and unseparated floor spaces
  
  
• Structures that lack windows
  
  
• Hazardous occupant risks
  
  
• Outdoor risk exposure

Evaluation also takes into account matters that involve public liability exposure and crowd control within the building, as well as outside in the parking lots. Shopping malls that are most subject to this consideration contain the following:

• Food markets
  
  
• Eateries
  
  
• Bowling alleys and skating rinks
  
  
• Cinemas
  
  
• Other public attractions

Shopping Strip Insurance
Not all shopping strips are equal in regard to tailored insurance coverage. While some may have only one tenant, others house many commercial tenants. The defining factor between shopping strips is not a common interior property, but its entryway – from the parking area or adjacent sidewalk. For the multiple shopping- strip owner, the diffusion of risk creates an alluring comprehensive property insurance schedule. Parking lot and vacancy risk exposure are the main issues in this insurance class.

For more information about what insurance plan works best for your shopping center, speak to an independent agent that is experienced in this form of coverage.

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Summary: Insurance coverage can be a complicated issue for the shopping center owner.