Commercial Property Insurance

16 Oct Commercial Property Insurance

Commercial property insurance is a MUST for any business or company.  It helps protect against specific disasters that jeopardize your real estate or business assets.

Events that may occur and can be covered include:

  • Theft
  • Fire
  • Vandalism
  • Water damage

The importance of commercial property insurance cannot be measured.  It helps protect a lifetime of work and guarantees a payout to repair and replace valuable items:

  • Equipment
  • Computers (electronics)
  • Stock and inventory
  • Company furniture and décor
  • Business interruption – very important to include when purchasing a policy

Commercial policies can be structured to fit your company’s specific needs.  If you own the property, the location can be covered entirely.  If your business rents space, a policy can be geared to cover the contents of your space.  Policies can be adapted to cover off premises items like a lap top that is stolen or damaged while on location.

Commercial property rates vary depending on type of policy, amount of coverage and deductible.  Your trusted and experienced independent insurance agent has many options available to the business owner to keep costs down.

BOP, business owner’s policy, is a unique option for small and low risk businesses designed to keep prices lower by bundling general liability and commercial property insurance into one policy.

Other types of coverage that may help to keep the cost down include:

  • Named perils coverage – This covers only items that are listed in the policy. Since your coverage is more detailed to specific perils, costs can be kept down
  • Open perils coverage – in this type of policy you can exclude specific things that may never occur in the area you are in

Discussing your many choices with your trusted agent with his vast number of “top of the line” insurance companies at his disposal, is always your best option when looking for commercial property insurance.

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