Business Property Insurance

Commercial Property Insurance is one of the most common types of business insurance available. Since business locations are so vital to the operations of a business, commercial property insurance is extremely important.

 

Important Features

• Building Coverage: The key when writing the building coverage for the Commercial Property policy is insuring the building for the correct amount. To determine this correct amount the insurance company will do a replacement cost calculator determination or if the building is substantial enough may even send out an engineer for a full inspection. When a loss occurs you will want the correct coverage in place so the building can be restored to its previous condition so your business can continue to move forward. 

 

 

• Business Personal Property: This component of the Commercial Property insurance policy has to do with the contents within the business. This can be fixtures, equipment, furniture, computers, etc that are on premises of the building location. This coverage is written to protect the items written above in case of a covered loss. 

 

 

• Business Interruption Coverage: This component, also known as business income provides coverage if there is a loss that prevents your business from running. The coverage kicks in to cover any potential financial downturn that the covered loss would affect.