Commercial buildings that now pay 5 or 6 cents per sf for insurance need to budget for costs to go up as much as 7 or 8 cents psf, adds Jones. This increase is expected across the board for all types of properties. The inflated costs are to cover the potential billions of dollars in 9/11 claims. Higher premiums will be sought to make up for losses and insurance carriers will pass these on to property owners.
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