Commercial Property Insurance

Commercial property insurance is a type of insurance that covers the physical property of a business, such as buildings, equipment, and inventory. It can also cover the loss of income if the business is unable to operate due to a covered loss.

Commercial Property Insurance
Most common ones include:
  • Fire: This includes damage caused by fire, lightning, and explosions.
  • Theft: This includes damage caused by theft, vandalism, and malicious mischief.
  • Windstorm: This includes damage caused by wind, hail, and other storms.
  • Flood: This includes damage caused by flooding, whether it is from a natural disaster or from a burst pipe.
  • Earthquake: This includes damage caused by earthquakes.
  • Business interruption: This covers the loss of income if the business is unable to operate due to a covered loss.

The cost of commercial property insurance varies depending on a number of factors, including the size and type of your business, the industry you are in, and your location. It is important to shop around and compare quotes from different insurance companies to get the best possible rate.

If you are considering purchasing commercial property insurance, it is important to understand the coverage that is included and the exclusions. You should also talk to your insurance agent about the specific risks that your business faces so that you can get the right coverage.

Here are some additional things to keep in mind about commercial property insurance:
  • It is not a substitute for other types of insurance, such as general liability insurance or business interruption insurance.
  • The coverage limits may be too low to cover a major loss.
  • The policy may have deductibles that you will have to pay.

If you have any questions about commercial property insurance, you should consult with your insurance agent.

Here are some of the benefits of having commercial property insurance:
  • It can protect your business from financial ruin in the event of a loss.
  • It can help you get back to business quickly after a loss.
  • It can give you peace of mind knowing that your business is protected.

If you own or operate a business, commercial property insurance is an important type of insurance that you should consider. It can help protect your business from financial loss in the event of a covered loss.

Commercial property insurance typically covers the following:
  • Building: covers the cost to repair or rebuild the business’s building if it is damaged or destroyed.
  • Contents: covers the cost to replace the business’s contents, such as furniture, equipment, and inventory, if they are damaged or destroyed.
  • Business interruption: cover the cost of lost income if the business is unable to operate due to a covered loss.
  • Liability: cover legal fees and damages if the business is sued for causing injury or property damage to someone else.
Contact us @ 718-878-6484 to further discuss