Commercial Property Insurance
Commercial Property Insurance Information
Businesses are exposed to many risks, and often the best way to protect them is by obtaining a robust insurance policy that includes commercial property coverage.
What Is Commercial Property Insurance?
Commercial property insurance provides coverage for physical assets owned by a business and protects businesses from financial losses due to covered events. Depending on the business’s specific needs, commercial property insurance policies can vary in coverage and cost.
Commercial property insurance typically covers the following business-related assets:
- Physical building or workspace
- Any additional items necessary for daily operation
Commercial property insurance typically covers the following types of incidents:
- Riots or civil disturbances
- Automatic sprinkler leakage
The specific coverages a commercial property insurance policy provides can vary depending on the business owner’s needs, the type of business, the business’s location and additional risk factors. Business owners should review their policies carefully and ensure they have adequate coverage for their needs.
What Doesn’t Commercial Property Insurance Cover?
Commercial property insurance doesn’t cover every type of property damage and typically excludes the following:
- Neglect or improper maintenance
- Intentional property damage by you or your employees
Add-on policies may be available to create a broader range of coverage that may include these types of property damage.
What Happens If Your Commercial Property Is Not Insured?
Any business that relies on physical assets to operate should have commercial property insurance. Without this coverage, a single event, such as a fire or natural disaster, could cause significant financial losses, putting the business at risk of bankruptcy or closure.
Where to Get Commercial Property Insurance
Contact Gene Smith Insurance to discuss your business insurance needs. We can provide policy recommendations based on your specific business and its potential risks.
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