What Does Commercial Property Insurance Cover?

3/15/2021 (Permalink)

Commercial insurance is important

Commercial insurance plays a vital role in protecting your business interests in the event of an emergency. One coverage that most business owners carry is commercial property insurance. Unlike liability insurance, this part of your policy covers what your business owns.

What It Covers Against

Commercial property insurance covers you against losses of all varieties. It covers:

• Fire damages
• Loss due to theft
• Flood damage
• Natural disasters

For instance, if your business suffers from a pipe breaking and floods, this insurance will cover the damages. The same goes for wind and fire damage.

What It Covers

This type of insurance covers most of your business assets. Just as liability insurance covers your client or customer's person and property, this insurance covers yours. This includes things like landscaping damage, building damage, inventory damage, and stolen inventory. It protects everything your business owns. In some cases, this insurance covers cleaning your business after a flood or fire and the cost of a remediation company in West Valley City, UT.

Why You Need It

You could suffer significant financial loss in the event of a disaster. Imagine your building or office destroyed by fire. The damage can be devastating. You could lose everything. Make sure your commercial insurance policy covers the cost of all valuable property and cleanup necessary to make your business whole again.

What To Look For in a Policy

There are some basics that you need to know when you are looking for commercial property insurance. The first thing you should do make a list of all of your commercial property. This list should include sheds, outbuildings, inventory, industrial equipment, office equipment and important paperwork.
Anything that you want to be protected against loss should be on that list. Bring that list to your insurer. Ask them for a policy that covers as much as possible within your budget.

Commercial insurance covers a lot, but some policies don't have property coverage. If you read your policy and it doesn't have this coverage speak to your insurance agent.