Commercial Property Insurance

Commercial Property Insurance

What is Commercial Property Insurance?

Most businesses have a building, signs, office equipment and furniture, inventory, computer equipment and data, and improvements to land or buildings.  When something happens and repair or replacement is needed for any or all of this property, expenses can add up quickly.

Have you ever had to worry about unexpected cost of repairs or replacement?  With Commercial Property Insurance, there’s no risk of being surprised with an accident on your property that leaves you holding an unplanned expense that you simply can’t afford.

Property Insurance is a type of insurance that covers expenses related to direct damage to property owned by an organization.  Common types of damage that is covered by property insurance includes fire, wind, hail, theft, vandalism, auto collision, and more.

What should I look for in a
Commercial Property Insurance policy?

There are certain forms that are important to be included in a business property insurance policy.  The first is a Special Perils of Loss coverage form.  This type of coverage offers the broadest coverages available under standard policy forms.

The second type of coverage form to include in your policy is the Electronic Data Processing.  This type of coverage covers computer hardware and software against unique hazards which are commonly excluded in commercial property insurance policies.

Another type of property insurance to consider is Inland Marine coverage.  This is a unique type of property insurance that is designed for equipment that leaves the business location on a regular basis and goes to other locations.  An Inland Marine coverage form follows the equipment to all locations and protects it against damage or loss.

One of the main things to consider is what is covered and what is not covered (including acts of nature, flood, vandalism or other events) in the course of normal business.  The size of the deductible is also important – this is usually either a fixed amount or a percentage of the asset values.

Do I really need a Commercial
Property Insurance policy?

With many high risk property loss situations excluded by default from insurance policies, it’s important for organizations to carefully review their insurance policies with an experienced agent who specializes in business insurance.

Additionally, the business insurance agent should review contracts a tenant has signed with their landlord in order to determine if special coverage provisions are required as part of the terms of the lease agreement.

Get Quote Now »

Get your free quote now, and let our expert agents help you get the Commercial Property Insurance coverage you need.

Don’t wait until it is too late and something happens you’re not prepared for.  Get your free quote today and start your company down the path to a more secure future.