Key Takeaways

Mixed-use property insurance is a commercial policy designed to protect your property from financial losses if it's damaged or destroyed from a covered loss.
Offers coverage with two main parts: commercial property and liability insurance.
Liability coverage to help protect your business if a third-party sues you for bodily injury or property damage.

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.

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

What Is a Mixed-Use Property?

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.

What Are the Two Types of Property Insurance?

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.

What Is the Difference Between Mixed-Use Property Insurance and Commercial Property Insurance?

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.

What Are the Most Common Claims for Mixed-Use Property Insurance?

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

How Much Does Mixed-Use Property Insurance Cost?

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.