Protect Your Gear, Goods, and Buildings
Commercial Property Insurance
Is Your Business Prepared for the Worst?
Having the right commercial property coverage could mean the difference between a minor disruption and a major financial loss.
Protect your assets in the event that they are stolen, damaged, or destroyed in a fire or natural disaster. We’ll partner with you to design insurance coverage that will protect your company’s property.
Commercial Property Insurance FAQ
Business property insurance is coverage that can protect your company’s physical assets from unexpected events, including fire, wind, theft and vandalism. Physical assets covered by commercial property coverage could include the business property you own or rent, office equipment, furniture, fixtures, inventory and other items you count on to support your daily operations.
Commercial property insurance helps protect the physical assets you need to operate your business, including:
- Brick-and-mortar structures
- Business equipment, tools, and furniture
Many business owners lease space to run their operations. If you fall into this category, check your lease to review your obligations in terms of insurance. Some tenants will be responsible for insuring the building or must continue paying rent even if the space is destroyed. It’s a good idea to review the lease with your insurance agent to confirm that the insurance coverage you choose is sufficient and will protect you in the event of damage or loss of the property.
Commercial property insurance can be very inexpensive, especially for some low-risk businesses. The total value of your business property and operations will be factors in determining the exact price you’ll pay. When you get a quote, you’ll be asked about:
- The type of work you do
- The value of your property
- How many employees you have
- Your physical location
- Your claims history
In some cases, yes. A Business Owners Policy (BOP) combines commercial property insurance + general liability insurance into one package that usually offers savings over purchasing both policies individually.
While a BOP is highly customizable, there are limits to what it can do. Our agents work with you to find out what type of coverage is best for you and your business.
Generally speaking, no.
Many types of business insurance are optional. However, while it may not be required by law, a property and casualty insurance policy is highly recommended for all business owners. Additionally, your landlord or lender may require you to carry property insurance to protect their investment.