Commercial landlords in New Jersey own buildings that are occupied entirely or primarily by tenants. The building generates rental income for the owner, and the insurance program must protect both the physical asset and that income stream. Commercial landlord insurance is structured differently from owner-occupied commercial property insurance, with loss of rental income coverage playing a central role.
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Muller Insurance writes commercial landlord insurance for NJ property owners across Hudson County and throughout New Jersey. Our commercial carrier portfolio covers retail buildings, apartment buildings, mixed-use properties, and office buildings occupied by tenants.
Core Coverages for NJ Commercial Landlords
Commercial Building Coverage
Covers the building structure and all improvements at replacement cost. Building values in Hudson County and northern NJ have increased substantially, and policies with outdated replacement cost estimates may be significantly underinsured. A replacement cost valuation review at each renewal is worth considering.
Loss of Rental Income
If a covered loss forces tenants to vacate during repairs, this coverage replaces the rental income from affected units or spaces during the repair period. The indemnity period should be long enough to cover the realistic repair timeline for the building. In older NJ commercial buildings, repair times following major losses can extend well beyond six months.
General Liability
The commercial landlord’s general liability policy covers bodily injury and property damage claims arising from incidents on the property, including common areas and the building exterior. Tenant businesses carry their own general liability for incidents within their leased spaces, but the landlord is responsible for common area incidents.
Ordinance and Law Coverage
Many commercial buildings in New Jersey, particularly those built before modern codes, may face significant code-upgrade costs following a major loss. Ordinance and law coverage pays for code-mandated upgrades that are required when a building is reconstructed, which are excluded from standard commercial building policies.
Managing Tenant Insurance Requirements
Commercial landlords should require their tenants to carry commercial general liability insurance with minimum limits specified in the lease, and to name the landlord as an additional insured. Muller Insurance can advise on appropriate minimum insurance requirements for commercial leases and can review tenant certificates of insurance on a landlord’s behalf.
Our Carriers for Commercial Landlord Insurance in NJ
- Andover Companies: writes commercial building and landlord liability in NJ, NY, and CT.
- Franklin Mutual (FMI): writes commercial property for qualifying landlord properties in NJ, NY, and PA.
- Amtrust: writes commercial building and liability for landlord properties in NJ and NY.
- N&D Group: writes commercial property for landlord properties in NJ.
- Cumberland Mutual: writes commercial property and liability for NJ landlord properties.
Contact Muller Insurance
For commercial landlord insurance in NJ, call Muller Insurance at 201-659-2403 or visit MullerInsurance.com. We write commercial property coverage for landlords with retail, apartment, office, and mixed-use buildings throughout New Jersey.
