Serving the unique needs of businesses
One of the most common types of business insurance, commercial property insurance provides a wide range of coverage for buildings, inventory, equipment, tools and more. Losses from fire, break-in, vandalism, windstorm and other natural or manmade disasters are examples of what is typically covered.
Commercial property insurance is designed to protect:
- Your building or office
- Your inventory
- Any outdoor signage
- Landscaping and fencing
- Additional structures
What you need to know about Commercial Property insurance
Business Personal Property
Business personal property insurance covers property at a specified location. This includes furniture, fixtures, equipment and inventory. Be aware that most commercial property policies have very limited coverage for property taken off the specified location. If you have equipment that is frequently taken off-site to various locations, it is important that you have an inland marine policy (equipment or installation floater).
Building
Do you own a commercial building? If so, do you have enough commercial property insurance to cover replacement costs? Although cost estimators are available, we recommend that you secure an appraisal from a third party to accurately determine the current replacement cost of your building.
Business Income (Business Interruption Coverage)
This coverage reimburses a business owner for lost profits and fixed expenses during the time that a business is closed. It applies while the premises is being restored due to damage from an event, such as a fire. Business income insurance may also cover financial losses that occur if civil authorities limit customer access to your neighborhood or business after a disaster. We strongly recommend that all businesses acquire this coverage.
We Can Help
A basic commercial property insurance policy may be all you need, although the types of coverage can vary between different insurance companies. We can help you determine the type of insurance policy and range of coverage that is best for your business.
