Insurance for Commercial Property

There are many ways to protect your business and its assets, but few are as effective or essential as commercial property insurance. This type of coverage can be one of the most vital products you purchase for protecting what makes money: buildings that house your customers’ products (like stores), equipment used in those businesses like computers with internet access, and even stocks if it involves producing goods on-site at some point. All these things provide income and are essential to keeping the business running, so their protection is also crucial.

Insurance for Commercial Property

Don't Let Your Insurance Suck!

We have decades of experience, and our friendly agents are here to help you find the best policy for your needs. Plus, all of our services come with top-notch customer service. So what are you waiting for? Get a free quote today!

We know that your insurance company sucks and that you’re probably not getting the best service. That’s why we’re here to help you out! We’ll work with you to get the best coverage at the best price, and we won’t stop until you’re happy. So give us a call, and let us show you what we can do!

What is Commercial Property Insurance?

Commercial property insurance protects the structure you own or rent and the tools and equipment you use to run your business.

It covers losses from a variety of sources, including:

This sort of commercial insurance provides more coverage than homeowners insurance for home-based business owners.

You may have heard this sort of insurance referred to by other names, such as:

What Does Insurance for Commercial Property Cover?

Commercial property insurance can cover various losses, including fire, theft, vandalism, and wind damage. Coverage can also extend to business personal property, such as furniture and equipment. In addition, most policies will include loss of income coverage, which can help your business stay afloat if forced to close due to a covered loss.A commercial insurance policy covers three types of property: buildings, businesses’ personal belongings, and other people’s goods.

Building
This part insures the list of buildings on your insurance policy. The building may be a property you own or one you do not own but are responsible for securing insurance (called a triple net lease). The building coverage includes the following parts in addition to the actual structure: -Additions completed -Fixtures -Equipment and machinery that are permanently installed
Business Personal Property
Business personal property (BPP) is the second section of a commercial business property insurance policy. The building itself is not covered by this portion of the policy (unless you are a tenant who has permanently added upgrades to your rented space), but the property's contents are.

The policy may list the following:
1. Fixtures and furniture
2. Equipment and machinery
3. Stock
4. Other personal property that you own and utilize in your business
5. Tenant enhancements (upgrades made to a rented space)
6. Leased personal property for which you are contractually obligated to insure

Please note that most commercial property insurance policies only cover personal property within 100 feet of the insured structure.

4 Things You MUST Know About Commercial Property Insurance

There are a few things to keep in mind when shopping for commercial property insurance:

Make sure you’re insuring the replacement value of your property, not the market value. The replacement value is what it would cost to repair or replace your property with new materials and construction methods, while the market value considers things like depreciation.

Choose a policy with a high enough limit to cover the total replacement value of your property.

Consider adding additional coverage for business interruption insurance, which can help cover lost income if your business has to close due to damage from a covered event.

Talk to your insurance agent or broker about what events are covered under commercial property insurance policies and ensure you get the property insurance coverage you need.

How Much Does Insurance for Commercial Property Cost?

Because every business is unique, there is no one-size-fits-all answer. Your cost will be determined by the specifics of your business and the degree of protection you require. The nature and scale of your organization, the number and condition of your facilities, loss protection, and prevention policies, and so on are all elements that may influence your costs. The most straightforward approach to assessing your cost is to request a quote from one of our expert insurance agents.

How Much Commercial Property Insurance Do You Need?

The amount of commercial property insurance you need will depend on the value of your business property. To determine the value of your property, add up the replacement cost of all buildings and contents inside the buildings. You’ll also want to include any business personal property, such as furniture and equipment. Once you have an estimate of the total value of your property, you can work with one of our insurance agents to find a policy that provides the coverage you need.

How to Get the Best Rates on Commercial Property Insurance

There are a few things you can do to get the best rates on commercial property insurance, including:

At Your Insurance Sucks, we understand that finding the right insurance policy for your business can be challenging. That’s why we work with you to understand your needs and find a policy that fits your budget. We’ll also review your options with you and help you choose the coverage that’s right for your business.To get started, contact us today for more information about insurance for commercial property or to get a quote. We’re here to help you protect your business!

Get Started Today

Your Insurance sucks, right? Well not if you have a reliable commercial building insurance brokerage firm to help.
Partnering with the right one gives you access to top-of-the-line coverage and pricing.