Business Property Insurance
Commercial property insurance, also called business property insurance is a type of small business insurance that provides coverage for losses. Losses can range from storm damage, fire, vandalism, theft, electrical surges, building collapse and certain damages caused by water. Without it, small business owners are left to pay for necessary repairs out-of-pocket.
Who Needs Commercial Property Insurance?
Landlords may require that their tenants provide proof of commercial property insurance or business property insurance. Lenders also require this coverage for the duration of the mortgage to help cover financial losses after a damage-causing event.
It’s crucial to get this coverage even if it is not required. It can help protect your company from the financial effects of damage-causing events.
What Does It Cover?
Commercial property insurance is a contract between an insurance company and a business. It may cover the company’s physical location and other assets such as office equipment, inventory, fixtures, furniture, supplies and business-owned buildings. Additionally, it helps a business owner pay to repair or replace damaged, stolen or lost business property in exchange for premium payments.
How to Get This Type of Insurance
We are ready to help you get a policy that satisfies your lender or landlord’s requirements while providing you with essential business property coverage. We can answer any questions or concerns about the coverage this policy provides. Contact us today to get started!