Shopping Mall Insurance

(Finding the right coverage has never been easier)

Ann Herro, Insurance Expert Written by Ann Herro
Ann Herro, Insurance Expert
Written by Ann Herro

Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.

paul martin Reviewed by Paul Martin
paul martin
Reviewed by Paul Martin

Paul Martin is the Director of Education and Development for Myron Steves, one of the largest, most respected insurance wholesalers in the southern U.S.

Inside a modern Shopping Mall. Find shopping mall insurance.

Shopping malls are more than convenient collections of stores; they are gathering places for people from all walks of life. People go to malls to spend time with friends, beat the heat, pass the time on rainy days, and even to get some exercise. And sometimes, they go just to shop. 

Operators of shopping malls and other shopping centers are aware of the risks they face with so many people coming and going on a daily basis, as well as diverse tenants with varying customers and interests.

If you own or operate a shopping mall, it is important for you to understand all of the risks you face. Then you can obtain the proper shopping mall insurance to protect your assets from all that can go wrong. 

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Why Do I Need Shopping Mall Insurance? 

You know what it’s like to operate a shopping mall—and the wide range of problems that can occur. You need shopping mall insurance to protect your assets from many of these problems, such as:

  • Storm or fire damage to structures or common areas
  • Water damage
  • Break-ins, theft, or vandalism
  • Unexpected breakdown of critical machinery, like furnaces or air conditioners
  • Parking lot or outdoor sign damage
  • Customer slips, trips, and falls

With a wide variety of tenants selling equally varied products, your relationships and reputation can be damaged if you don’t have the resources to make repairs or recover when something goes wrong. 

It is your responsibility to ensure a safe, well-maintained facility for your tenants and their customers. If you don’t, you can be sued for causing damage and financial harm to a variety of third parties.


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What Does Shopping Mall Insurance Cover?

The biggest exposures for shopping mall owners are property damage and liability claims related to negligence or contract performance. You must carry commercial property insurance as well as several forms of liability insurance to properly protect your assets. 

  • Commercial property insurance protects your assets after a physical loss due to smoke, fire, wind, hailstorm, vandalism, and other covered events. 
  • Business interruption insurance protects your earnings if you cannot collect rents for some time (and lose income) as a result of some type of unexpected event (e.g., a storm). It allows you to earn income and pay for certain ongoing expenses while repairs are made to the property and tenants can return. 
  • Commercial general liability (CGL) insurance provides coverage if you are responsible for an injury or property damage to a third party (an individual or another business). If a shopper trips on an upturned rug in a common area of the mall or is injured in the parking lot, the CGL policy covers medical bills and related expenses. It also provides coverage for legal bills if you are sued. 
  • Equipment breakdown coverage pays for expenses related to accidental or unexpected breakdowns of vital machines and equipment, such as air conditioners, boilers, computer equipment, alarm systems, and more. If one of these items breaks down, it can lead to additional property damage and lost income that can be devastating. With this coverage your repairs are covered and you have income protection. 
  • Outdoor sign coverage is important because your other property coverage likely doesn’t cover damage to outdoor signs, which can be caused by vandalism, rain, heavy wind, snow, tornadoes, or even earthquakes. It covers damage to outdoor signs that are not attached to your building.

Special Professional Liability Considerations for Shopping Mall Owners

Shopping mall owners should talk with their independent agent about the need for professional liability insurance, or errors and omissions (E&O) insurance. There are a variety of circumstances in which you could be sued for lapses in your professional responsibilities, and your CGL policy may not offer the coverage you need. 

Professional liability insurance can help you if you are sued for:

  • Wrongful or negligent evictions
  • Discrimination
  • Failure to perform professional duties according to your contracts

Professional liability insurance covers your legal defense costs, settlements or judgments you are required to pay, court costs, and attorney fees.

Other Important Shopping Mall Insurance Policies

Talk with your independent insurance agent about the following types of additional shopping mall insurance that you may need:

  • Non-owned auto liability insurance is necessary if you or your employees drive personal vehicles for business use. 
  • Workers’ compensation insurance is required for most businesses that have employees. It protects you and your employees from the costs of work-related injuries and illnesses. 
  • Employee crime and dishonesty coverage protects your business from the costs of theft, dishonesty, and fraudulent acts committed by an individual employee or a group of employees.
  • Utility interruption coverage provides income protection if you are unable to operate due to a covered utility interruption (water, electrical).
  • Valuable papers coverage reimburses you for costs to reproduce damaged documents as well as move records or provide temporary storage for financial statements, bank statements, and other important or valuable papers if they are damaged by a covered peril. 

How Much Does Shopping Mall Insurance Cost? 

The cost of shopping mall insurance depends on several factors that are unique to your business, so your costs may vary significantly from other shopping mall owners. 

Some of the factors that influence your shopping mall insurance cost include:

  • The size of your shopping center or mall 
  • The types of policies you need to cover your unique risks
  • The number of employees
  • The number of shopping centers you own 
  • The location, crime rate, and risk for severe weather in your city

Find and Compare Quotes

An independent agent can work with you one-on-one to determine the types and amounts of coverage you need. Your agent can get quotes from multiple insurance companies so you can evaluate the cost and coverage options and make the best choice. 


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Our independent agents shop around to find you the best coverage.

Benefits of an Independent Agent

Our agents simplify the search process for finding the right shopping mall insurance. They’ll walk you through some handpicked policy options and explain the details and options.

Most importantly, they’ll be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately. 

The Lowdown on Online Quotes

Online quotes can be tempting. They are fast and easy to get—but are they accurate? And are you getting quotes for the right coverage? For business owners, choosing speed over accuracy can cost you. 

Online quotes can’t and don’t see the whole picture. They can leave out important coverage that will leave you devastated if something unexpected happens. And they can leave out cost-saving opportunities that an agent can help you take advantage of. 

Instead of getting an online quote, find an independent insurance agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs. 

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