What commercial property insurance covers

What is commercial property insurance and what does it cover?

Commercial property insurance is a business insurance policy designed to protect the building your company is in, your assets inside the building and some outside property. Commercial property insurance often referred to as business property insurance will protect your company from perils such as fire and smoke, theft and vandalism, and other natural disasters. Many different industries can benefit from commercial property insurance such as manufacturers, retail, office buildings, service oriented businesses, and non profit organizations.

What commercial property insurance covers

Commercial property insurance coverage is customizable. There are some perils that are not covered under a standard commercial property insurance policy such as earthquake and flood damage. These perils can be added to your standard policy with earthquake insurance or flood insurance. 

The great thing about commercial property insurance is that you can customize it to pretty much cover all of the business assets you own. Most commercial property insurance policies will include coverage for:

• Equipment, tools, special machinery and computers
• Furniture, fixtures, desks, chairs, bookcases, appliances, and supplies
• The company inventory such as food and perishable items
• Your office space

If you have a home office there is a very good chance you will need to purchase commercial property insurance. A standard homeowners insurance policy will not cover you the same way a commercial property insurance policy will. Home insurance usually does not cover lost or damaged equipment. 

Commercial property insurance coverage

Commercial property insurance covers the building your company is in and pretty much everything inside it as well. A recap on some of the items covered may include:

• Computers
• Furniture
• Exterior signs
• Fences 
• Landscaping
• Important documents
• Inventory
• Others’ property
• Building
• Equipment
• Tools
• Personal property

What Does Commercial Property Insurance Cover?

Whether you rent, own or lease the building you’re in commercial property insurance will help to protect the building and your business assets. Examples of how commercial property insurance may cover your business are:

• If a fire breaks out and destroys the furniture and electronic equipment
• Someone breaks into your building and steals computers or inventory
• Someone steals your outside signage 

What Commercial Property Insurance Doesn’t Cover

Commercial property insurance does not cover every peril or risk. It’s good to know what is and isn’t covered under your commercial property insurance policy. Examples of when commercial property insurance may not cover you are:

• If a customer drops their personal computer by tripping over something in your office
• An employee accidentally ruins a customers wall
• An employee gets into an accident while driving to a customers location
• A river overflows due to heavy rain which causes a flood damaging your business inventory
• An employee intentionally damages company property
• An earthquake damages the building you’re in

Please remember to receive coverage for flooding and earthquake damage all you have to do is purchase separate policies such as earthquake insurance or flood insurance. 

Commercial property insurance quote

At Eugene C Yates Insurance Agency we make it easy for you to get a fast, free commercial property insurance quote. We have amazing agents standing by to take your call and answer all of your questions. The best part is they have access to the best commercial property insurance carriers in the industry and firsthand knowledge of the best business property insurance discounts available.

When it comes to commercial property insurance rates or inquiring about the cost of commercial property insurance we are your go to place for commercial insurance. If you’ve been shopping for commercial property insurance near me please do hesitate to give us a call at 916 313 6100