Commercial Property Insurance

What is Commercial Property Insurance?

Commercial Property Insurance is insurance coverage specifically designed to protect businesses and
property owners from financial loss related to direct physical loss to buildings and business personal
property. Typically, there are three types of Property exposures that are needed. First, coverage for a
building and building equipment can be covered. Second, owned property including stock and finished
goods is typically covered by a Property policy. Finally, many businesses would sustain a large loss of
income or could have significant extra expenses that would need to be incurred in the event of a large
loss to their property. Coverage for this financial concern is available.

There are a variety of ways to issue coverage based on the unique characteristics of buildings and
contents. It’s important to work with your broker to make sure you have coverage for the type of losses
that may happen in your area.

Why is Commercial Property Insurance Important?

There are four significant reasons why this coverage is important.

• • First, the building and contents owned by businesses and individuals is often one of the most
    significant assets on the books. Losing this asset might result in ruin.
  • Second, most owners do not have tens of thousands of dollars readily available to make repairs
    or replacements after even small claims and insurance coverage typically provides that gap.
  • In the event there are mortgages or loans on property, insurance coverage is typically required.
  • Finally, possibly more so than any other risk, Property losses are often completely outside the
    control of a property owner. For example, none of us can predict or change the weather. A
    tornado, hurricane, or wildfire could destroy property and often there is little to be done to
    prevent such loss.

Here are some common Coverage Highlights:

• • Building Coverage – Coverage for a physical building and any permanently installed/attached
    personal property.
  • Business Personal Property – Coverage for owned or leased property held in a covered location
    or within a short distance from that location. Often, coverage can also be included for property
    of others held in the insured’s care, custody, and control.
  • Loss of Income – Coverage is provided for the financial loss that results from not being able to
    continue operations or received rental income from a covered property.
  • Extra Expense – Most businesses cannot afford to simply shut down while a building is rebuilt.
    Their customers likely would go elsewhere and they may never get them back. Extra Expense
    coverage provides financial resources so that operations may continue elsewhere, even at an
    increased cost to the business owner. This includes possibly paying to have another entity
    perform operations on the insured’s behalf.

How Our Team Can Help:

Our experienced team of insurance professionals is here to guide you in determining your needs and
finding the appropriate solution. We do this in several ways:

• • • Tailored Solutions: We understand that every client/situation is unique. Our team will work
      closely with you to customize an insurance plan that meets your specific needs and budget.
    • Risk Assessment: We will conduct a thorough risk assessment of your operations or ownership
      interests to identify potential hazards and recommend appropriate coverage options.
    • Claims Assistance: In the event of a claim, our dedicated claims specialists will assist you
      throughout the claims process, ensuring a smooth and hassle-free experience.
    • Expert Advice: With our in-depth knowledge of the insurance market, we can provide expert
      advice and guidance to help you make informed decisions about your insurance coverage.

Get Started Today!

Protect your investment and minimize financial risks with Commercial Property Insurance. Contact our
team today to learn more about our insurance solutions and how we can help safeguard your ownership
or business interests.

Contact Us