Start with who owns the building, goods, and operations
Before comparing prices, identify the interests inside the facility. Travelers says its small-business commercial property insurance can protect business property the insured owns, leases, or rents, including buildings, equipment, furniture, fixtures, inventory, and property of others in the business's care or custody.[2]
Liability is a separate question to review. IAT lists general liability for third-party bodily injury or property damage in its warehouse offering alongside property damage to the building and contents, cargo loss or damage to stored goods, equipment breakdown, and business interruption after a covered loss.[1]
| Interest at risk | How a carrier describes coverage for it | Carrier page that describes it |
|---|---|---|
| The warehouse building and its contents | Property damage coverage for the warehouse building and contents | IAT Insurance Group, warehouse storage and logistics offering |
| Equipment, furniture, fixtures, and inventory the business owns, leases, or rents | Small-business commercial property insurance for that business property | Travelers, commercial property insurance |
| Goods a customer left in your custody | Cargo loss or damage to stored goods, listed as its own coverage; property of others in the business's care or custody, listed as business property | IAT Insurance Group; Travelers |
| Bodily injury or property damage claims brought by other people | General liability | IAT Insurance Group |
| Lawsuits brought by tenants or their employees against a building owner who leases space out | Lessor's risk only insurance for covered bodily-injury or property-damage suits, including related legal fees; The Hartford says its LRO coverage does not cover physical damage to the owner's building or the tenant's business property | The Hartford, lessor's risk only insurance |
Carrier product descriptions from IAT Insurance Group, Travelers, and The Hartford. Each describes that carrier's own offering, not an industry standard.[1][2][5]
If you lease warehouse space to a tenant rather than operating it yourself, review the owner and tenant interests separately.
Related: Lessor's risk insurance guide
Compare the building and contents schedules separately
Ask to see the building limit and business personal property limit, along with the valuation shown for each. Travelers describes buildings, equipment, furniture, fixtures, and inventory as business property its small-business commercial property insurance can protect when the insured owns, leases, or rents it. USLI's application separately asks for building and business personal property limits and valuation.[2][6]
Related: Commercial property insurance guide
The form behind those limits determines the causes of loss described by the policy. Texas Department of Insurance consumer guidance distinguishes basic, broad, and special commercial property forms and identifies flood, earth movement, wear and tear, and other exclusions as common to the special form. The guidance states that the issued policy, declarations, endorsements, exclusions, limits, deductible, and any coinsurance clause control a specific claim.[3]
- Replacement cost or actual cash value
Texas Department of Insurance guidance explains replacement cost and actual cash value as commercial property settlement bases.[3]
Review: Read the valuation shown on the declarations for the building line and the business personal property line.
- Ordinance or law
Texas Department of Insurance guidance lists ordinance or law among coverages a commercial property buyer may need to add.[3]
Review: Ask whether ordinance or law appears on the quote and at what limit, then confirm it in the issued policy.
- Whether the proposal identifies property of others in your care or custody. Travelers lists it among the business property its small-business commercial property insurance can protect.[2]
- Which of the basic, broad, or special forms the quote uses. Texas guidance distinguishes those forms.[3]
- The deductible and any coinsurance clause. Texas guidance identifies both among issued-policy terms that control a specific claim.[3]
When two proposals show different building limits, compare the valuation basis before comparing premium.
Coverage questions in this guide
A shared record keeps related coverage questions in one place.
- Property damage to the warehouse building and contents
IAT describes property damage to the warehouse building and contents as part of its warehouse storage and logistics offering. Travelers describes buildings, equipment, furniture, fixtures, and inventory among the business property its small-business commercial property insurance can protect when owned, leased, or rented.[1][2][6]
Review: Confirm the building and business personal property limits and valuation shown in the proposal.
- General liability for third-party injury or damage
IAT lists general liability for third-party bodily injury or property damage as a distinct coverage in its warehouse offering. The Hartford says its lessor's risk only coverage does not insure physical damage to the owner's building or the tenant's business property.[1][5]
Review: Check the proposal's liability and property coverage parts and their exclusions.
- Cargo and goods stored for customers
IAT lists cargo loss or damage to stored goods as its own coverage for warehouse storage and logistics operations. Its page does not establish that customer goods are automatically covered. Travelers separately describes property of others in the business's care or custody as business property its coverage can protect.[1][2]
Review: Confirm the insured interest, cause of loss, limit, and valuation for stored goods.
- Equipment breakdown
IAT includes equipment breakdown in its warehouse storage and logistics offering. Texas Department of Insurance guidance lists boiler and machinery among coverages a commercial property buyer may need to add.[1][3]
Review: Ask whether equipment breakdown appears in the proposal and review its issued terms.
- Business interruption and extra expense
IAT includes business interruption after a covered loss in its warehouse offering. Travelers describes business income and extra expense coverage as protection for continuing expenses, lost income, and certain extra costs after an interruption caused by a covered event.[1][4]
Review: Confirm the limit, covered-event trigger, and accounting records relevant to the issued coverage.
Stored goods and warehouse liability need their own review
Do not treat the phrase “the goods are covered” as an answer by itself. IAT lists cargo loss or damage to stored goods and general liability for third-party bodily injury or property damage as separate coverages in its warehouse offering, apart from property damage to the building and contents. Review the applicable coverage part, insured interest, cause of loss, limit, and valuation in the proposal for owned inventory, customer goods, and third-party property claims.[1]
- Insured interest: confirm whether the proposal addresses inventory you own, property of others in your care or custody, or both. Travelers describes property of others in the business's care or custody as business property its small-business commercial property insurance can protect.[2]
- Cause of loss, limit, and valuation: IAT's warehouse page does not establish that a particular cause of loss, limit, valuation, or business-income period applies to the policy you are offered.[1]
- Contract terms with tenants and customers: USLI's May 2025 all-states lessor's risk application asks about tenant insurance, certificates, written leases, indemnification, and additional-insured requirements, as well as each tenant's name, operations, and square footage. These are underwriting questions on one carrier's form, not universal legal or contract requirements.[6]
Equipment failure and downtime can create separate losses
Travelers describes business income and extra expense coverage as protection for continuing expenses, lost income, and certain extra costs after an interruption caused by a covered event. Its description says coverage depends on the primary policy, covered event, limits, endorsements, accounting records, and issued terms.[4]
Do not assume interruption and machinery coverages are included with the property form. Texas Department of Insurance guidance lists business interruption, extra expense, ordinance or law, and boiler and machinery among coverages a commercial property buyer may need to add. IAT describes equipment breakdown and business interruption after a covered loss as parts of its own warehouse offering, which does not establish that another warehouse policy includes either one.[3][1]
When requesting business-income figures, ask the producer to show the limit and the issued terms that govern settlement. Travelers notes that its coverage depends on the primary policy, covered event, limits, endorsements, accounting records, and issued terms.[4]
Review fire protection, theft, flood, and occupancy changes
USLI's May 2025 all-states lessor's risk application asks about construction, cause of loss, deductible, protection class, number of stories, alarms, sprinklers, roof and building systems, older wiring, vacancy, owner occupancy, loss history, and specified tenant operations. These questions show facts one carrier reviews. They do not establish that any answer produces acceptance, rejection, or a particular rate.[6]
- Protection and building systems: have current sprinkler, alarm, roof, and wiring details ready. USLI's application asks for each of them.[6]
- Theft and stored goods: verify the quoted cause-of-loss terms, exclusions, deductible, stored-goods limit, and valuation. Identify the goods being stored and their maximum values when comparing that limit and valuation.[1][3]
- Occupancy changes: USLI's application asks about vacancy, owner occupancy, and each tenant's operations. Update the facts provided for a quote when a tenant leaves, space sits empty, or the operation changes.[6]
- Loss history: USLI's application collects loss information, and its instant-quote section is limited to accounts with no losses in the past three years.[6]
- Causes of loss: Texas Department of Insurance guidance identifies flood, earth movement, wear and tear, and other exclusions as common to the special commercial property form. Read the exclusion list in the form being proposed.[3]
The NFIP General Property Form is a separate flood-only policy for eligible commercial property. Under that form, building and contents coverage are purchased separately, separate deductibles apply, and covered building and contents losses use actual cash value.[7]
Prepare one warehouse fact set for every quote
Use one consistent warehouse fact set when comparing proposals so that building, occupancy, stored-goods, protection, value, loss, contract, lender, and coverage information can be reviewed on the same basis.
- Building and protection detail: construction, number of stories, protection class, alarms, sprinklers, roof and building systems, older wiring, deductible, and cause of loss. USLI's lessor's risk application requests these facts.[6]
- Occupancy detail: each tenant's name, operations, and square footage, plus any owner occupancy and vacancy. USLI's application asks for these facts.[6]
- Stored-goods detail: identify the goods stored, maximum values, and the coverage part, limit, valuation, and cause of loss you want reviewed.[1]
- Limits and valuation: building, business personal property, and business income limits and valuation. USLI's application collects these on the same form.[6]
- Values and documents: Nationwide's commercial real-estate page asks for rent rolls or equivalent statement-of-values information, an ACORD application with a real-estate supplemental or equivalent underwriting information, and executed third-party contracts and leases.[8]
- Loss runs: Nationwide's commercial real-estate page asks for five years of currently valued loss runs.[8]
- Lender instructions: include any insurance requirements or evidence-of-coverage instructions you have received so they can be compared with the proposal.
- The coverage parts to review side by side: property damage to the building and contents, general liability, cargo or stored goods, equipment breakdown, and business interruption. IAT describes these lines for warehouse storage and logistics operations.[1]
Property Covered is a property insurance marketplace operated by Switchboard Risk Technologies Inc., a licensed insurance producer. It has access to more than 400 carriers and market options across the marketplace and can help customers compare available carrier terms. That access does not promise that a particular carrier or program is available for a warehouse. Carriers make the final eligibility, pricing, binding, policy, and claims decisions.
A Property Covered quote request is free, carries no purchase obligation, and records your property details for licensed follow-up. You can also call licensed support at (888) 693-8980 to discuss warehouse quote options or next steps.
Related: Start a quote request
Sources
- 1.IAT Insurance Group, Warehouse Insurance (warehouse storage and logistics coverages)
- 2.Travelers, Commercial Property Insurance (small-business property scope)
- 3.Texas Department of Insurance, Commercial property insurance guide
- 4.Travelers, Business Income and Extra Expense
- 5.The Hartford, Lessor's Risk Only Insurance
- 6.United States Liability Insurance Company, Lessor's Risk Only Product Application - All States (May 2025)
- 7.FEMA National Flood Insurance Program, Summary of Coverage: Commercial Property (General Property Form)
- 8.Nationwide, Real Estate Insurance for Businesses (submission requirements)
Common questions
Start by reviewing the coverage parts relevant to the building, contents, operations, and goods at the facility. IAT describes property damage to the building and contents, general liability for third-party bodily injury or property damage, cargo loss or damage to stored goods, equipment breakdown, and business interruption after a covered loss in its warehouse offering. Travelers separately describes buildings, equipment, furniture, fixtures, inventory, and property of others in the business's care or custody as business property its small-business commercial property insurance can protect. Neither page establishes that a specific policy includes every item, so compare the proposal line by line. [1][2]
Do not assume customer goods are covered. IAT lists cargo loss or damage to stored goods as a separate coverage in its warehouse offering, but its page does not establish that customer goods are covered under another policy or which cause of loss, limit, or valuation applies. Travelers describes property of others in the business's care or custody as a category of business property its coverage can protect. Confirm in the proposal the insured interest, limit, cause of loss, and valuation that apply to the goods. [1][2]
Texas Department of Insurance guidance identifies flood among exclusions common to the special commercial property form. The NFIP General Property Form is a separate flood-only policy for eligible commercial property. Under that form, building and contents coverage are purchased separately, separate deductibles apply, and covered building and contents losses use actual cash value. [3][7]
Travelers describes business income and extra expense coverage as protection for continuing expenses, lost income, and certain extra costs after an interruption caused by a covered event. It says this coverage does not apply to a flood loss when the business lacks flood insurance for that event. Texas Department of Insurance guidance lists business interruption and extra expense among coverages a commercial property buyer may need to add, so check whether the proposal includes them and what causes of loss trigger them. [4][3]
USLI's May 2025 all-states lessor's risk application asks for construction, protection class, alarms, sprinklers, stories, roof and building systems, older wiring, deductible and cause of loss, tenant names, operations and square footage, owner occupancy, vacancy, loss information, and building, business personal property, and business income limits and valuation. Its instant-quote section is limited to accounts with no losses in the past three years. Nationwide's commercial real-estate page asks for rent rolls or equivalent statement-of-values information, an ACORD application and real-estate supplemental or equivalent underwriting information, executed third-party contracts and leases, and five years of currently valued loss runs. Each list belongs to that carrier's program; another market may ask for fewer, different, or additional records. [6][8]
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