Commercial Property Insurance
Your business is made up of many assets. Commercial property insurance is needed to protect those physical assets that have been purchased by the business for it’s operation. As a business owner, you have a level of risk due to loss and the right coverage can help to mitigate these risks.
Commercial property insurance provides coverage for a businesses physical location as well as other physical assets the company owns. It is common to protect your building and the items inside it, but it is also important to consider additional aspects of your business such as warehouses. While company owned property may not generate revenue, it is still a vital piece to the business operation and should be insured.
What Does Commercial Property Insurance Cover?
There are several key components that commercial property insurance covers. These include:
Equipment Breakdown
Coverage in the event that a piece of equipment fails or breaks down and causes damage to the property. The repair as well as loss of revenue due to the failure is covered.
Revenue Loss
Coverage for loss of revenue enables your business to have a revenue stream available while repairs are being made on damaged property, or until a replacement can be made.
Construction Costs
If your business suffers a loss requiring you to rebuild, commercial property insurance will provide you the coverage for new construction.
Natural Disasters
Your business may suffer loss due to natural disaster. This can mean repairs to your building after a tornado or other naturally occurring event that results in loss to your business.
Do I Need Commercial Property Insurance?
It is recommended that all businesses that meet the following criteria have commercial property insurance:
- You own or operate a business
- Your business has physical assets
- Your company’s revenue depends on said physical assets
- Your business has physical assets that do not draw revenue, but are essential to operating your business
I Need a Quote – What’s Next?
We’re happy to provide you with a free quote or policy review at any time! In order for us to best understand your needs, contact us! We will take the time necessary to understand your business and provide you with the best policy options that meet your business needs. It’s important to us that we listen, assess, and strategize with you to build a lasting relationship you can trust.