 Commercial Property Insurance
As a business owner, you know that property loss means a financial setback to the operation. It’s crucial to have items insured because you can’t avoid every potential loss. Commercial property insurance is an expansive benefit that will help businesses of all shapes and sizes protect their items of importance.
You can rely on the expert team at Bone Robertson & McBride, Inc., to help you get optimized commercial property coverage. We insure businesses of all shapes and sizes and can assist companies in high-risk and hazardous industries.
Whether you’re in pest control, security services or any other industry, call us today at 800-510-1095 to get a quote on the commercial property insurance you deserve.
What Is Commercial Property Insurance?
All businesses own property such as equipment, machinery, furnishings, stock and inventory. Commercial property insurance will help you replace damaged or destroyed items so that you can resume normal operations without a significant financial loss.
Why Is Commercial Property Insurance Important?
Property damage in your business could cause you to face not only a loss of property value but also interruptions in operations. These challenges could impact your bottom line and your place in the supply chain, and they might be hard to overcome without financial assistance. Commercial property insurance provides the money to help you recover from your losses, limiting your financial liability in the face of unforeseen problems.
What Does a Commercial Property Insurance Policy Cover?
Property belonging to your business that is insurable under commercial property insurance includes:
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Owned buildings
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Furnishings
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Stock and inventory
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Machinery
All policies will vary, and many will offer different definitions and limitations on what items will have coverage. By working with your Bone Robertson & McBride agent, you can determine the coverage terms that are right for you.
When Will Commercial Property Insurance Cover Me?
Commercial property insurance will protect you from a variety of perils. These may include unforeseeable events like:
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Break-ins and theft
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Vandalism
How Much Commercial Property Insurance Do I Need?
Building the right commercial property policy requires attention to detail. You will need to determine the value of your different property assets when choosing the proper policy limits. Policies can provide coverage for most property items.
Keep the following in mind:
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Items damaged due to wear and tear, neglect or lack of maintenance may not be covered.
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If you damage third-party property, your company’s general liability insurance may cover this property damage.
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Coverage may not repay lost income or ongoing overhead costs that accrue even though you have a halt in operations following property damage. To get that coverage, you will need to add business income insurance to your insurance portfolio.
You might also need to supplement your standard commercial property policy with more specialized forms of property coverage, such as:
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Inland marine insurance--Covers items when you are storing or transporting property away from your primary location.
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Bailee’s customer coverage—When customers leave their belongings in your care, they could sustain damage in a covered peril. This coverage will pay for the losses.
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Commercial flood insurance—Flood damage is not covered by most standard commercial property policies. Commercial flood insurance is available as a separate policy.
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Equipment breakdown insurance—Sudden breakdowns of essential equipment might interrupt your operations. This coverage can help you repair the items. Items that have failed due to lack of maintenance will not have coverage.
What Will My Commercial Property Insurance Cost?
Multiple factors can influence the cost of your property coverage, including the:
We are committed to making commercial insurance benefits affordable for every business owner, regardless of budgetary objectives. Call us today to learn more about your coverage options.
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