Be Careful!!! Most "off the shelf" commercial property polices provide ONLY 12 months Loss of Rental Income when a property is shut down due to a covered claim.
This IS NOT enough coverage because many issues can delay repairs when a commercial property suffers a large loss - fire, explosion, etc. In addition to making the necessary repairs, construction delays can occur due to:
- Delay in plan approvals, permitting issues, design changes
- Weather, materials availability, code updates
- Complex construction techniques, etc
I recommend 24 months Loss of Rental Income. It's not expensive and you won't worry about project delays eliminating your expected cash flow!
http://www.stanburns.com/2018/03/04/rental-income-insurance/
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