Commercial Property Insurance: Protecting Your Business's Foundation

Any business that owns or leases physical space and assets should consider this coverage to protect against potential losses.

It protects your business's physical assets, such as buildings, equipment, inventory, and furniture, against losses from events like fire, theft, or natural disasters.

Replacement Cost: Covers the cost to replace the property without depreciation. Actual Cash Value: Covers the depreciated value of the property at the time of loss.

Exclusions often include floods, earthquakes, wear and tear, and intentional acts. Separate policies or endorsements are needed for excluded perils.

Factors include the property's location, construction materials, occupancy type, protective devices, and the chosen coverage limits and deductibles.

Commonly covered perils include fire, theft, vandalism, windstorms, and some types of water damage.

It covers the building, contents within the building, exterior fixtures, inventory, and sometimes property belonging to others in your care.

Yes, it's often included in a Business Owner's Policy (BOP) along with general liability insurance.

Yes, you may still need coverage for your business's contents and any improvements you've made to the leased space.

Conduct a thorough inventory of your assets, assess the cost to rebuild or replace them, and consider potential risks specific to your location.