Key Features of Commercial Property Insurance
Coverage for Physical Property
- This includes buildings (whether owned or leased), machinery, office equipment, inventory, and even signage.
Perils Covered
- Standard policies typically cover damages from perils like:
Fire and Lightning
- Windstorm or Hail
- Theft and Vandalism
- Smoke
- Explosions
- Burst Pipes (water damage)
- Civil Disturbance
- Vandalism
Business Interruption Coverage
- Many commercial property insurance policies offer coverage for business interruption. This helps cover lost income if your business is temporarily unable to operate due to damage to your property.
Extra Expenses
- If your business needs to relocate or pay for temporary accommodations while your property is being repaired, this coverage can help with the extra costs.
Liability Coverage
- Some policies also include liability coverage for accidents that occur on your property, such as if a customer gets injured while on your premises.
Replacement Cost vs. Actual Cash Value
- Replacement Cost: Pays to replace the property with a new one of similar kind and quality, regardless of depreciation.
- Actual Cash Value: Pays the replacement cost minus depreciation (so the payout will be lower).
Exclusions
- Common exclusions may include:
- Wear and tear or gradual deterioration
- Earthquakes and floods (often require separate policies)
- Employee theft (can be covered by a fidelity bond or crime insurance)
Why Choose Us?
Every business is different, and we understand that your property insurance needs are unique. We work closely with you to tailor a policy that fits your specific business, whether you own a small retail store, manage a multi-location operation, or run a large industrial facility. Our custom solutions ensure you’re not overpaying for unnecessary coverage, but still have the protection you need.