Commercial Property Insurance

Business Insurance for Commercial Property

Commercial property insurance protects the physical assets of your business from perils like fire, theft, vandalism, and weather damage. Coverage applies to buildings you own, equipment, inventory, furniture, and fixtures essential to your operations.

Why Your Business Needs This

• Fire damage can destroy years of investment in equipment and inventory overnight
• Theft of tools and merchandise can halt your operations and revenue
• Storm damage to your building can result in expensive repairs and downtime
• Water damage from burst pipes can ruin inventory and equipment

What It Covers

Coverage includes your building structure if you own it, business personal property like computers and furniture, inventory and stock, machinery and equipment, improvements and betterments if you lease, and outdoor property like signs and fences. Policies typically cover named perils or all-risk basis depending on your selection.

What's the Difference Between Replacement Cost and Actual Cash Value?

Replacement cost coverage pays to replace damaged property with new items of similar quality without deducting for depreciation. Actual cash value deducts depreciation from the settlement, paying what the item was worth at the time of loss. Replacement cost provides better protection but costs more in premiums.

Do I Need This If I Lease My Space?

Yes, absolutely. While your landlord insures the building structure, you need coverage for your business personal property, improvements you've made to the space, and your inventory. Your lease likely requires you to maintain this coverage.