Commercial Property Insurance
Commercial Property Insurance Information
Commercial property insurance is a special type of insurance that covers the company building along with the contents owned by the company. Property can include the buildings, computers, money, office furniture, valuable papers, and lost income or business interruption.
Building coverage insures the building, outdoor fixtures and furniture, items used to service the property, permanently installed machinery and equipment, and additions under construction including the materials, supplies, and equipment.
Business personal property coverage protects business personal property such as furniture and fixtures that are not considered building items; machinery and equipment not permanently installed; all other personal property owned by the insured and used in the insured's business; and labor, materials or services provided or arranged on personal property of others.
Personal property of others covers personal property of others that are in the care, custody, or control of the insured.
Business income and extra expense provides income should you need to set up shop in a temporary location while repairs to your building or being made. It can also pay for increased expenses in your new location. For example, you rent at old location was $1,000/month. In your temporary location, the rent is $1,500/month. The $500 difference can be covered by the Extra Expense coverage.
Commercial property insurance is one of the core coverages included in either a Business Owners Package Policy or a Commercial Package Policy.
Without adequate commercial property coverage, your business is at great risk to fail after a disaster or theft. Such events results in hundreds of billions of dollars in paid claims. Most businesses cannot afford such a substantial loss. Commercial property insurance can help with repairs, replacements and lost income during a difficult time like a natural disaster or theft.
Pepe Insurance offers free and comparative quotes on business insurance from many carriers so you can get the best possible rate. Request a quick business insurance quote today to get started.