Why do you need Commercial Property Insurance?

Businesses have many physical assets, including buildings, computers, specialized equipment, outdoor signage and inventory. “Property” can also include: lost income or business interruption, buildings, computers, money, and valuable papers.

Without adequate commercial property coverage, approximately a quarter of businesses fail during the first year following a disaster or theft. Such events result in hundreds of billions of dollars in paid claims. Most businesses cannot afford such a substantial loss. Commercial property insurance can assist with repairs, replacements and lost income during a tumultuous time like a natural disaster or theft.

What are a few aspect that Commercial Property Insurance covers :

• Repair or Replacement: Coverage can extend to assets that are lost, damaged or stolen due to fire, storm, hail, tornado, theft or vandalism. Damage from flooding and earthquakes are excluded.
• Lost Income: Income loss results from a business’ inability to run as usual following a disaster. This coverage can offer lost income relief, along with the expenses associated with recovery.
• Temporary Location: A devastated building may no longer be able to support daily operations. Coverage can extend to funding a temporary location while repairs are being made.