Strip Mall Insurance

Overview of the Program From MacNeill Group Inc.

This program is designed for building owners who lease space to multiple tenants in a strip mall or small shopping-center setting. Whether the owner occupies under 75% of the building or leases the entire structure to others, the program offers property and liability protection to help keep the asset operable and productive.

Strip malls combine retail, service and office tenants and create blended exposures — from physical property damage and tenant liability to business income interruption and equipment breakdown. MacNeill Group places these risks on a non-admitted basis through a panel of carriers, offering broad and customizable coverage forms aimed at multi-tenant commercial properties.

Ideal Accounts and Appetite

The Strip Mall Insurance program targets Florida commercial property owners with one or more tenants, including retail, service, and office-based occupancies. Typical accounts include:

• Neighborhood retail strip centers with mixed-use tenants
• Multi-unit commercial plazas where owner-occupancy is less than 75%
• Properties with established, responsible tenants and documented lease arrangements

Accounts with more challenging features — such as coastal exposure, older construction, or elevated vacancy — can still be considered but will require underwriting review. High-hazard manufacturing, institutional care facilities, and certain processing operations are not acceptable.

Coverage Highlights and Advantages

MacNeill Group places coverage through markets that offer robust limits and optional enhancements suited for strip mall owners. Available property and liability coverages include:

• Building property and contents
• Business income and loss of rents
• Equipment breakdown
• Flood and earthquake coverage
• Law and ordinance (building code upgrades)
• Exterior signs

Optional liability and ancillary protections may include:

• Umbrella limits up to $20 million
• General Liability options to $2 million per occurrence / $2 million aggregate (with additional limits available)
• Property liability and higher liability limits where supported
• Deductibles as low as $1,000 (subject to underwriting)
• Crime coverage for on-premises exposures
• Hired and non-owned auto coverage

Underwriting Notes and Minimum Premiums

Underwriting focuses on occupancy mix, tenant quality, building condition, protection class, and loss history. Situations that typically need closer review include bankrupt operations, properties with greater than 50% vacancy, coastal locations, buildings in fire protection classes 9 or 10, and older structures with deferred maintenance.

Minimum premiums vary based on location, limits, and coverages selected. The program excludes certain classes of business, for example:

• Ammunition or fireworks manufacturing
• Drug or gas manufacturing
• Lead or rubber processing
• Penal institutions or convalescent/nursing homes

Territories and Availability

The Strip Mall Insurance program is currently available for properties located in Florida and is written on a non-admitted basis through various carriers. Agents looking for flexible solutions for Florida-based commercial property clients may find this program particularly useful.

Why Work With MacNeill Group Inc.?

MacNeill Group Inc. brings decades of MGA experience and a focused underwriting approach to commercial property. Their placement capability across multiple non-admitted markets, combined with knowledgeable underwriting for multi-tenant risks, helps agents secure competitive terms for complex strip mall accounts.

Examples of accounts that may fit well:

• You have a client who owns a six-unit neighborhood strip center (salon, deli, small dentist office, convenience store) with owner occupancy at 20% and a good loss record — this program can provide broad property, business income, and liability coverages.
• You represent a larger plaza with mixed retail tenants and partial vacancy in a coastal Florida county — the account may be considered with full underwriting submission and appropriate mitigation information.

Frequently Asked Questions

Need help placing an account? Connect with a market specialist.