Policy Highlights for Shopping Center Insurance:
Colonial General Insurance Agency, Inc. offers a comprehensive Shopping Center Insurance program designed to meet the needs of lessor’s risk exposures for strip shopping centers. This program is ideal for agents looking to place business with retail property owners who lease space to multiple tenants. Coverage is available on a mono-line or package basis, with flexible options to accommodate a variety of insured needs.
To qualify, shopping centers must have at least five retail units and a minimum of 25,000 square feet of automobile parking at each location. This ensures the program is focused on larger, well-trafficked shopping centers that require robust protection across multiple coverage lines.
Ideal Accounts and Appetite
Target risks include strip malls and neighborhood shopping centers with multiple tenants such as dry cleaners, restaurants, salons, convenience stores, and specialty retailers. These accounts typically involve property owners who lease to third-party tenants and are responsible for maintaining the common areas and buildings. Ideal accounts are located in AZ, CA, CO, ID, NV, NM, UT, and WY.
You might have a client who owns a retail plaza anchored by a grocery store with various smaller tenants, or a regional investor with several shopping centers across the Southwest. This program offers flexible underwriting and broad coverage to help you meet their needs.
Coverage Highlights and Advantages
Property Coverage Available:
• Building coverage on Replacement Cost or Actual Cash Value basis
• Basic, Broad, or Special Form options
• Business Income and Equipment Breakdown
• Accounts Receivable and Valuable Papers
• Computer Equipment and Contents
• Coverage for Outside Signs
Commercial General Liability Coverage:
• Primary limits up to $3,000,000 Occurrence / Aggregate
• $5,000 Medical Payments Coverage included
• Additional Interests available for $100 each
• Excess or Umbrella Limits up to $25,000
• No deductible required
Crime Coverage:
• Inside the Premises – Theft of Money & Securities
• Inside the Premises – Robbery or Safe Burglary of Other Property
• Outside the Premises coverage
Underwriting Notes and Minimum Premiums
Minimum premiums vary depending on the size, location, and risk profile of the shopping center. Colonial General works with a variety of carriers, allowing for flexible underwriting solutions. Risks should meet eligibility criteria, including minimum size and parking area requirements. Submissions should include full property and tenant details to expedite the review process.
Territories and Availability
This program is available in the following states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Utah, and Wyoming. Some admitted markets are available depending on the risk profile and location, and non-admitted options are also accessible through Colonial General’s broad market access.
Why Work With Colonial General Insurance Agency, Inc.?
Colonial General is a trusted Managing General Agency and Excess & Surplus Lines Broker with deep expertise in commercial property risks in the Western U.S. Their team provides responsive service, flexible package options, and access to multiple markets. By partnering with Colonial General, agents can offer tailored insurance solutions for shopping center clients—backed by knowledgeable underwriters familiar with complex retail exposures.
Frequently Asked Questions
What types of accounts are a good fit for this program?
Shopping centers with at least five retail units and a minimum of 25,000 sq. ft. of parking are ideal. Typical tenants include dry cleaners, restaurants, convenience stores, and service-oriented retailers.
Is this program available on an admitted basis?
Some admitted markets are available depending on the specific risk and location. Colonial General also offers access to non-admitted carriers for more complex accounts.
Can I write monoline coverage or does it have to be a package?
Both monoline and package coverage options are available. You can tailor the policy structure to your client’s specific exposures.
What are the minimum premium requirements?
Minimum premiums vary based on the size, location, and risk characteristics of the account. Contact Colonial General for specific underwriting guidance.
Which states is this program available in?
This Shopping Center Insurance program is available in AZ, CA, CO, ID, NV, NM, UT, and WY.
Need help placing an account? Connect with a market specialist.