What Is Mixed-Use Property Insurance?

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A Single Policy for Your Mixed-Use Property

If your business property has two or more different types of uses, you’ll need to safeguard your business with mixed-use property insurance. Whether your property is used for commercial, residential or industrial reasons, this insurance protects your building if it’s damaged by perils like flood, fire, wind or theft.

Key Takeaways

  • A mixed-use property is a building your company owns that is used for two or more types of uses, like commercial, residential and/or industrial.
  • Mixed-use property insurance is a commercial policy designed to protect your property from financial losses if it’s destroyed or damaged from a covered loss. This coverage also includes liability coverage if your business is sued by a third-party for bodily injury or property damage.
  • A mixed-use property insurance policy offers coverage with two main parts: commercial property insurance and liability insurance.
small business owner enjoying their job knowing they have great insurance for mixed-use property

What Kind of Buildings Qualify for Mixed-Use Building Insurance?

Mixed-use building insurance is a type of commercial property insurance for companies that own real estate used for two or more purposes, such as commercial, residential and/or industrial reasons. Building owners of mixed-use properties face unique risks compared to those with single-use buildings. For example, if you own a building with a retail store on the ground level and apartments on the upper level, you’ll need mixed-use building insurance.
small business owner feeling secure knowing they have mixed-use building insurance

What Types of Policies Are Included With Insurance for Mixed-Use Property?

Typically, mixed-use property insurance includes these two types of essential coverages:
  • Commercial property insurance: Helps protect your owned or rented building, plus the physical assets, like tools and equipment, that you use to operate your business.
  • Seguro contra terceros: Helps protect you and your business financially if you’re found legally responsible for property damage or personal injury to a third party. This coverage helps protect you if someone files a lawsuit or reports a claim against your company.

What Does a Mixed-Use Commercial Property Insurance Policy Cover?

A mixed-use commercial property insurance helps protect against these losses:
  • Fire damage: If your property is damaged or destroyed by fire damage, this coverage can help cover the costs to repair or replace it. It can also help pay for liability lawsuits resulting from a fire at your business’ property.
  • Slips and falls: If your commercial property gets foot traffic, you’ll be financially protected if someone slips and falls in your business and sues you.   
  • Water damage: If a pipe bursts or leaks and causes water damage to your building, inventory or equipment, this coverage can help pay for repairs and the replacement cost.
  • Wind and hail damage: If wind or hail cause structural damage to your property, this coverage can help you pay for the costs to repair your mixed-use building and any lost income if you’re unable to operate.
  • Equipment breakdown: This coverage can help cover damages to your business’ property or equipment if there’s an unexpected breakdown.
  • Ordinance or law: This coverage helps bring your commercial building up to code after a covered loss damages or destroys your property. It can help pay for the costs associated with restoration or repairs to your building.

Common Questions About Mixed-Use Property Insurance

A mixed-use property is a building that is used for two or more purposes, such as residential, commercial and/or industrial reasons. If you own a property that has a business, such as a store or restaurant, that also has residential rental units, you’ll need mixed-use property insurance coverage.
The two main types of property insurance are commercial property coverage and liability coverage. Commercial property insurance helps protect your business’ physical assets, such as your building, equipment and tools from losses like fire, theft, wind and lightning. Business liability insurance helps financially protect your business and employees if you’re sued or found legally responsible for a property damage or personal injury to a third party.
Mixed-use property insurance is just a type of commercial property insurance specialized for mixed-use buildings. It’s important to know that a mixed-use building is a type of commercial property that includes two or more types of businesses, such as both residential and commercial space.
Some of the most common commercial property claims for mixed-use properties include:
  • Wind damage
  • Hail damage
  • Fire damage
  • Customer slip and falls
  • Burglary and theft
  • Lightning damage
  • Water damage
On average, customers of The Hartford pay about $1,605 a year for commercial property insurance.1 However, your commercial property insurance costs may be higher or lower than that amount depending on several different factors, including:
  • Your location
  • Your fire and threat protection
  • Occupancy of your building
  • Construction of your building

Get a Quote for Mixed-Use Property Insurance

A licensed insurance agent can help you find the right types of commercial property insurance for your business’ needs. Find an agent today to get a quote for a mixed-use property insurance with The Hartford.
Última actualización: 7 de mayo de 2024
1 Premium amounts presented are based on monthly premium paid by The Hartford's Small Business customers between 1/1/23 and 12/31/23 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.
Divulgaciones adicionales a continuación.
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