Business Property Insurance
Property insurance customized for you
Commercial Property Insurance can pay for business property that is damaged, stolen, or destroyed. Commercial property typically includes:
- Your building, which can also include permanently installed fixtures, machinery, and equipment.
- Contents of your building, which includes items that can be easily removed, like inventory, office equipment, and other supplies.
- Other people’s property, which includes items that are left in your care, custody, or control. For example, an auto repair shop may keep a customer’s vehicle overnight. Once the property is in your care, you could be responsible if it’s damaged or stolen.
Like most policies, business property insurance has inclusions and exclusions. For example, most property insurance pays when your stuff is damaged by common risks like fire, theft, or windstorms. But some things that cause property damage are often excluded (two big ones are floods and earthquakes).
Read your policy carefully. Ask your agent if you’re concerned that a specific risk may not be covered, and we can help you find ways to increase your coverage.
Business property & inland marine insurance
Inland marine insurance is a type of property insurance that covers certain kinds of movable property and other specialized items that standard property insurance policies don’t cover. Most inland marine policies cover the insured property no matter where it’s located.
An inland marine policy can cover a range of items, such as heavy machinery, miscellaneous tools, and catering equipment. These items are exposed to more opportunities for loss, damage, and theft because they move from location to location.
These increased exposures call for a separate form of property coverage, and that’s where inland marine coverage comes in.
Commercial Property Insurance protects the stuff your business needs to run. It can pay to repair or replace your business property if it’s stolen, damaged, or destroyed in a fire or natural disaster. Most policies can cover…
- Office space owned by your business.
- Fixtures.
- Furniture.
- Inventory.
- Supplies.
- Equipment.
You might want to consider this coverage if you…
- Own a commercial office or building.
- Rent a commercial office or storage space.
- Have valuable property, such as computers, culinary equipment, or specialized tools.
- Have property you rely on to run your business.
Worth noting: many commercial landlords require their tenants to have some Commercial Property coverage. Usually, they want you to purchase a policy that covers only your contents in the leased space. Read your lease carefully to check for potential insurance requirements.