Commercial Property Insurance

Commercial property insurance helps businesses, including farms and ranches, pay to repair or replace buildings, structures, and contents that are damaged or destroyed because of fires, storms, or other events outlined in the policy. Commercial property insurance also pays to replace stolen or lost property.

Business owners can buy commercial property insurance whether they own, rent, or lease a building. If you rent or lease a building, the building owner's policy probably won't cover the contents of the building that belong to you. You will need to buy your own policy to insure your on-premises property, including machinery, furniture, and merchandise. The cost of tenant coverage is usually significantly less than building coverage because the policy will only cover contents, not the building itself.

Businesses operating at multiple locations can be covered under a single policy, unless they have different functions and different risk profiles. This could be the case if your business has an administrative office and a separate factory.

Commercial property insurance may be one of the most important types of insurance in terms of financially protecting the property and physical assets of your business. Types of commercial property insurance can include:

1. Buildings and other structures, leased or owned
2. Furniture, equipment, and supplies
3. Leased equipment
4. Inventory
5. Money and securities
6. Records of accounts receivable
7. Improvements and betterments you made to the premises
8. Machinery
9. Boilers
10. Data processing equipment and media, including computers
11. Valuable papers, books, and documents
12. Mobile property, such as automobiles, trucks, and construction equipment
13. Signs, fences, and other outdoor property not attached to a building