Commercial Property Insurance

What is Commercial Property Insurance?

Commercial property insurance helps protect your owned or rented building, as well as the tools and equipment used to run your business.

Your inventory, office furniture and equipment, manufacturing or processing equipment, and personal property can also be covered.

A policy can cover losses from fire, theft, flooding, natural disasters, and many other causes of loss.

Of course, there are many exclusions in property policies, such as losses caused intentionally by an insured.

Benefits of Commercial Property Insurance

Without commercial property insurance, you could be responsible for paying the costs to fix or replace your damaged property on your own.

A policy can provide replacement cost value, actual cash value, or market value for your business property.

Often the policy requires the policy limit to be a high percentage of the full value of the property or a penalty can be assessed in the settlement of any claim.

A commercial property insurance policy may also include business interruption insurance to help replace lost income and required continuing expenses if you can’t operate your business because of covered property damage.

It also can include coverage for extra expenses to keep the operation going after a covered loss damages insured property.

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