BUSINESS
PROPERTY
Insurance
Commercial or business property insurance is a type of insurance that protects businesses from financial losses related to damage or destruction of physical assets, including buildings, equipment, inventory, furniture, and other property used in business operations. This coverage is essential for businesses of all sizes and industries, as it helps ensure that a company can recover and continue operating after a covered event.
What Commercial Property Insurance Covers:
Buildings:
Covers the physical structure of the business, including owned or leased buildings, warehouses, and other facilities. This includes permanent fixtures, such as plumbing, electrical systems, and HVAC units.
Contents:
Covers the contents within the business premises, such as furniture, equipment, machinery, computers, and inventory. This coverage extends to items owned by the business and sometimes to items owned by others that are in the business's care, custody, or control.
Inventory:
Protects the stock and raw materials a business holds, whether it’s for sale, manufacturing, or day-to-day operations. Coverage typically includes the cost of replacing inventory damaged or destroyed by a covered peril.
Equipment and Machinery:
Covers specialized equipment and machinery used in the business, such as manufacturing equipment, ovens, or printing presses. Equipment breakdown coverage can be added to cover mechanical or electrical failures.
Outdoor Signs and Property:
Covers signs, fencing, landscaping, and other outdoor property associated with the business, although this might require additional coverage or riders.
Business Interruption:
Often included or available as an add-on, business interruption coverage compensates for lost income and additional expenses if the business is temporarily unable to operate due to a covered event, such as a fire or natural disaster.
Carriers
