Your business would not be able to succeed if the equipment, materials, stock and products that it utilizes were to become compromised. Damage, theft or destruction of property might interrupt your operations and put you in a significant financial bind as you work through the recovery process. Indeed, if the loss of property is too great to bear, then the business might fold.

If you are committed to bracing your business against this threat, then you should consider commercial property insurance to be indispensable. This benefit might be required in some circumstances, but it’s critical to have in all cases. Any business that owns property—which is more or less any business—can benefit from this plan.

What Does Commercial Property Insurance Cover?

A commercial property policy is designed to help you repair assets damaged by unexpected, unavoidable accidents that impact your operations. It might apply to losses stemming from:

• Fire
• Wind
• Hail
• Lightning
• Smoke
• Theft
• Vandalism
• Explosions

Certain instances of water damage might also be covered. However, most types of flood damage will have to be covered by a separate commercial flood insurance policy.

This insurance may cover the physical location and all of its contents including decorations, furniture, equipment, products and more. Make sure to speak with your insurance agent to ensure that your business’ valuable assets are covered appropriately.

Do You Need Commercial Property Insurance Without a Physical Location?

The days of the brick-and-mortar business are over, and today you can run a successful enterprise even from the comfort of your own home. However, commercial property insurance remains essential for your operational needs. Indeed, your standard homeowners insurance will not cover commercial property except in very limited cases.

Commercial property insurance can cover items specifically used for your business, whether they are housed in a physical location or in your home. There are property damage risks everywhere, and all of them could impact your operations. You can rely upon your commercial property insurance to help you cover the costs of repairing, replacing or recovering these items so that you can sustain as little of a financial loss as possible in the meantime.

How do I Get the Right Commercial Property Insurance?

In some cases, you will have to buy your commercial property insurance as a stand-alone plan. In others, however, this benefit will come as part of a business owners policy (BOP). BOPs provide several essential commercial benefits, including commercial property insurance, in one place. Therefore, by having your commercial property coverage as part of this plan, you’ll be able to both coordinate your benefits and pay a lower price for your coverage overall.

It is never too soon to consider protecting the physical assets of your business. Keep your eyes peeled, compare quotes and speak to one of our insurance agents about protecting your business’s property with the right coverage.