My premium has been creaping up the last few years and I'd like to get another quote. Any recs for who to contact? Building is approximately 2700 ft2

Items considered when a carrier is rating:
Construction - frame & light metal (icm) get the highest rates per hundred of value. Roof type?
Protection Class - is there a paid fire dept responding or is it the sticks?
Age of the bldg - if over 20 years any updates?
Where is it? Tier one & two are getting the highest property rates in Texas. Think coastal and Harris County.
Provide some loss history, last three years minimum, five is better.
What is the occupant up to? ie bice cream shops get lower property rates than auto body repair.

Ideas to lower the premium all mean taking on more risk: Larger deductibles, sublimits for theft or water damage, maybe add a named storm wind deduct? Do you want replacement cost or actual cash value? ACV is cheaper. Cost of building materials going up has contributed to higher insurance rates.

Find a good agent that knows commercial insurance. It is another ballgame from personal lines. One last thought if there are fees & taxes on your current policy you are in the surplus market. Not necessarily a bad thing as the State does approve those carriers too but if you could get to an admitted carrier their rates are lower.

Good luck with your renewal.

Good information. Thanks for the details.

I've always been curious -- is there an insurance product that only covers catastrophic tornado losses on commercial metal framed / corrugated iron skinned buildings? No fire, no theft, no water damage, no 'normal' wind?

Basically, I'd be looking for something with a very low premium that would pay enough to handle the demo and cleanup if a tornado wrecked the place beyond reasonable repair.

Thanks.

Who is your quote through? I am a commercial insurance broker and our firm specializes in multi-family (90+% of our book), but I sometimes run across some smaller buildings or strip centers that our multi-family clients own. I'm happy to take a look but we have limited markets for something like this as most of our carriers work on bigger schedules. I will tell you, increases are the norm and have been for the last 3 years or so. Texas is far and away the leader in wind/hail claims. As in more than the next 4 states combined. Fewer and fewer carriers want to write in Texas, especially north Texas or coastal so the ones that will are increasing their rates. If a carrier is giving 25-40% increases and still getting the business, then they know that is what the market will bear. I had a client have a 100% increase this year, and that was far and away the best option. Her next best options were $50,000 higher or more. It's rough, but that's just where the market is.

In terms of "catastrophic" insurance, it's usually not worth it. I will explore options for my clients like doubling their wind/hail or named storm deductible, and generally the premium savings is minimal. I do have some coastal clients that have fire only policies and forego having wind/hail/named storm coverage. But overall, the savings you think you might get usually aren't there.

If OP wants me to review, email is username at gmail. I can at least tell you if it's competitive

No idea why that emoji was selected. Probably bc the dog jumped on my phone when posting bc I wouldn't throw her ball