What is Commercial Property Insurance?

2/17/2024 (Permalink)

Often included as part of a packaged business owner's policy, it can also be issued as a stand-alone policy. Commercial property insurance covers damage to a company’s building and its contents due to covered perils, such as fire, theft, or natural disasters. If your company has a building with land, computers, equipment, or inventory, you probably need property insurance.

The amount of coverage your business needs and the cost of this coverage, however, will vary depending on the nature of your business and the value of its assets. Coverage can either cover all risks except those specifically included or only those risks which are specifically named in the policy. The cost of this coverage will depend on how you value your company’s assets and whether you opt to include coverage for things like a business interruption or risks specific to your business’s location and industry.

While there’s a lot to consider when choosing the right commercial property insurance plan or business owner's policy, it doesn’t need to be complicated!  Source: IRMI Glossary 

There's never a convenient time for fire or water damage to strike your business. Every hour spent cleaning up is an hour of lost revenue and productivity. If you are faced with damage to your commercial property in Overbrooke /Wynnefield, our team will work with your insurance company for a for a stress- free claims process. If your business suffers a major loss, call (215) 877-6653

Learn more about our commercial services, including fire, water and storm damage restoration and mold remediation.