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What Does Commercial Property Insurance Cover?

Commercial property insurance protects the property of your business, but what are the specifics of this policy?

If you own an office or a building in which you conduct and rely on for business, how are you supposed to protect it from the perils of everyday life? Commercial property insurance protects the property on which you and your clients meet to conduct business. If you lose your property to a covered peril – say, a fire or storm – the commercial property insurance will pay the repair or replacement that is associated with those losses, up to the policy’s stated limits. Here is everything (or most everything) you need to know about commercial property insurance and what it covers.

What Is Commercial Property Insurance?

Commercial property insurance helps your business recover when covered disasters strike and jeopardize their business property and real estate. Covered events typically include disasters such as fires, windstorms, theft, or vandalism. When these perils affect your business, commercial property insurance can help you repair and replace items such as electronic devices, inventory, furniture, and business equipment.

What Does Commercial Property Insurance Cover?

  • Buildings – Commercial property covers the physical location of your business. Depending on whether you own or rent the space, you will want to forge your policy based on that fact.
  • Personal Business Property – Coverage for commercial property includes things that are inside of your business which you use to conduct business. Furniture, supplies, inventory, and equipment owned. Property which is not located at your business can also be covered. For example, when an employee brings a laptop to a meeting and it gets damaged, commercial property can help reimburse your business for this loss.

The only way to protect your business‘ property is to have quality property insurance that will protect and cover your company, be sure to contact Scavone Insurance Center, located in White Plains!

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