Commercial property insurance is needed for any business, whether you own your building, lease it, or even work from home. This insurance protects your building, its contents, and exterior fixtures, such as fences or outdoor signs. Core coverages include protection against fire, explosions, burst pipes, storms, theft, and vandalism. However, it’s important to note that earthquakes and floods are typically excluded unless specifically added to your policy.
Beyond basic coverage, there are various additional commercial property insurance options available to further protect your business:
Boiler and Machinery Insurance: Covers the accidental breakdown of boilers, machinery, and other equipment.
Debris Removal Insurance: Covers the cost of clearing debris after a disaster, such as a fire or a windstorm.
Builder’s Risk Insurance: Protects buildings under construction.
Glass Protection: Covers storefront and plate glass windows.
Inland Marine Insurance: Protects property in transit and other people’s property on your premises.
Business Interruption Insurance: Covers lost revenue and expenses due to property damage or loss.
Ordinance or Law Insurance: Pays for the costs of demolishing and rebuilding in compliance with current laws.
Tenant’s Insurance: Required for commercial lease agreements to cover alterations made to rented spaces.
Crime Insurance: Covers property crimes, including theft and burglary.
Fidelity Bonds: Compensates for losses caused by an employee’s theft of money or property.
Accidents and losses can happen regardless of your business's size or nature. Fires, thefts, storm damage, flooding, and even power outages can lead to significant financial loss. Because these events are unpredictable, it’s essential to have comprehensive commercial property insurance to protect your business assets.
Don’t leave your business vulnerable to unforeseen events. Contact our Insurance Agency today to learn more about commercial property insurance and the various options available to safeguard your business.