What Does a Commercial Property Policy Cover?

  • Your building: This typically includes equipment, machinery and fixtures.
  • The contents of your building: inventory, office furniture, supplies, anything that can be removed.
  • Someone else’s property: These are things that are in your care if they are inside your building. Items that belong to an employee or customer, like a laptop, might get damaged as a result of an electrical surge. When someone else’s property is in your care, you could be on the hook for damages if something happens.
  • Most commercial property policies cover windstorms, theft and fires.However, in many cases, property damage caused by floods and earthquakes is NOT included.


You Likely Need Commercial Property Insurance If You:

  • Own or rent a commercial building or storage space
  • Have costly equipment such as culinary, computers, and specialized tools
  • Have property that your business relies on to operate

*In many cases, commercial landlords require their tenants to have some Commercial Property coverage. Typically, a policy that covers only the tenant’s contents in the leased space is required, so it is recommended to review your contract.


Different types of Commercial Property Coverage

Cash value coverage: If you’re looking for a way to trim the budget while still protecting your property, cash value coverage may be a solution. Cash value coverage replaces your damaged equipment with used equipment, and can be a viable coverage option.

Named perils coverage: Another way to manage funds while still staying protected is “named perils” coverage. Named perils coverage is exactly how it sounds. Whatever is named in your policy is what is covered. While this coverage can save money, it can also be more expensive in the long run – so be sure to get details.


How Do I Get a Commercial Property Policy?

Suracy knows the complexities businesses face when looking for commercial property insurance. With tailored coverage solutions and knowledgeable support, Suracy can help to guide you in the right direction. Click here to get started.

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