What Is Commercial Property Insurance?
Commercial property insurance provides financial protection. It protects the physical assets of your business from threats - water damage, fire, theft, vandalism, and more. Commercial property insurance provides financial protection. It protects the physical assets of your business from threats - water damage, fire, theft, vandalism, and more.
Get support to move forward in a time of need. It prevents operations from coming to a halt when the unforeseen happens.
What Does Commercial Property Insurance Cover?
Loss or damage to your location can be devastating. Imagine the cost to replace manufacturing machinery, your computers or several months of inventory? Get protection for :
- Physical building : Any damage to your building by an insured peril. This includes landscaping, signage, and other physical structures on your land.
- Contents : All inventory, materials, furniture, supplies, contents within the building.
- Equipment : All tools, equipment, machinery and computer systems.
- Disruption : Get compensation for loss of income if you have to shut down.
- Property in transit : Protection from loss while goods move to and from your location.
What Is Not Covered By Commercial Property Insurance?
The following types of protection are not commonly included :
- Equipment wear and tear
- Loss that cannot be explained
- Deliberate damage to your property
- Cash and securities
- Theft at vacant locations
What Factors Affect Commercial Property Insurance Costs?
Insurers use a variety of factors to assess and set premiums. They include :
- Location
- Age of your property
- Replacement cost
- Coverage options and limits
- Plumbing, electrical and building upgrades
- Theft and fire security systems
- The type of operation
- Value of asset and equipment
- Your insurance history