Commercial Property Insurance
Quick answer: Commercial property insurance helps pay to repair or replace the physical assets your business depends on after a covered loss, such as fire, theft or vandalism. Main coverages include your building, contents and equipment, and business income coverage when added. Landlords and lenders often require it in a lease or loan agreement.
Commercial Property Insurance is a coverage that protects commercial property from perils such as fire, theft, vandalism and natural disasters. Most business owners typically do not expect such an event to happen to them, but when it does, it’s usually significant and it brings all income-producing ability to a halt. It’s easy to forget how quickly your investments add up; however, when you consider the value of the building (rented or owned), inventory, office equipment, furniture, equipment, and signage, investing in commercial property insurance is a smart way to mitigate risk and protect your hard-earned revenue.
Our insurance specialists can help you create a policy that keeps your small-to-medium-size business insured from top to bottom by covering such items as:
- Your building
- All interior items (desks, furniture, etc.)
- Any outdoor signs on your property
- On-site equipment
- Your inventory
Other items that are typically found on a Property Insurance policy can include Builder’s Risk insurance and Equipment Breakdown coverage. Builder’s Risk protects any materials or equipment from damage or loss sustained during construction or remodeling, while Equipment Breakdown, or Boiler and Machinery, keep any electrical, electronic, or pressurized equipment on your premises insured from breakdowns or loss.
In some cases, your business can save more by combining Property with Liability for the convenience of having your business needs met. To find out more about combining coverages and commercial property insurance, contact Lions & Coventry Insurance Services today.
Commercial property insurance FAQ
What does commercial property insurance cover?
Commercial property insurance typically covers your building (if you own it or your lease requires it), business personal property such as furniture, inventory and equipment, and outdoor signs against covered perils like fire, theft and vandalism. Equipment breakdown and builder’s risk coverage can often be added. Flood and earthquake are commonly excluded and may need separate coverage, so review the policy form.
Does commercial property insurance cover lost income after a covered loss?
Not automatically. Lost income is usually handled by business income coverage (sometimes called business interruption insurance), which is typically added to a commercial property policy or included in a business owners policy (BOP). It can help replace lost income and pay continuing expenses while you recover from a covered loss. Check your policy to confirm whether it is included.
Can Lions & Coventry place commercial property insurance outside California?
Yes. Lions & Coventry Insurance Services, established in 2009, is licensed in all 50 states (CA Lic. #0G22084), so we can help place commercial property coverage for businesses across the country. Call (916) 967-7715 to start a quote.