Commercial Property Insurance
Commercial Property Insurance Information
Commercial property insurance is a type of small business insurance that provides your business with coverage for losses resulting from covered perils like a damage-causing storm, fire, vandalism, theft, electrical surges, building collapse and certain damages caused by water. Without it, small business owners are left to pay for necessary repairs out-of-pocket.
Contact your insurance agent at Insurance Associates in Middleton, Ohio, to learn how commercial property insurance can help protect your company’s finances and get a personalized quote.
What Does Commercial Property Insurance Cover?
Commercial property insurance is a contract between an insurance company and a business. It may cover the company’s physical location and other assets such as office equipment, inventory, fixtures, furniture, supplies, and business-owned buildings. Commercial property insurance coverage helps a business owner pay to repair or replace damaged, stolen, or lost business property in exchange for premium payments.
Depending on your policy, commercial property insurance may not cover other important perils such as employee dishonesty, equipment breakdown, business income coverage, flooding, everyday wear and tear, or earthquakes. If you have concerns about the amount and types of coverage provided by this policy, talk with your agent to learn about riders or additional policies that can help you get the protection you want for your company.
Who Needs Commercial Property Insurance?
Landlords may require that their tenants provide proof of commercial property insurance or business property insurance. Lenders also require commercial property insurance, also called business property insurance, for the duration of the mortgage to help cover their financial losses after a damage-causing event.
Even if you aren’t required to purchase commercial property insurance, it’s crucial to get this coverage to help protect your company from the financial effects of business property damage due to unexpected events like a fire, break-in, or severe storm.
Get Commercial Property Insurance For Your Business
The insurance agents at Insurance Associates are ready to help you get a commercial property insurance policy that satisfies your lender or landlord’s requirements while providing you with crucial business property coverage. Contact them today to get the help you need to protect your business.