Business Insurance Coverage

Property

While no one wants to entertain the thought of disaster impacting their business, it's a reality that can't be ignored. That's why property insurance is indispensable. This essential coverage protects your buildings, their contents, and ensures income continuity in the event of business interruptions caused by covered claims.

Rest assured; we offer tailored property coverage designed to shield your business comprehensively from unforeseen events. With our robust insurance solutions, your business remains fully safeguarded against whatever challenges arise.

A commercial property policy typically covers a range of assets and risks associated with a business's physical property. Here are the key components that a commercial property policy generally covers:

• Buildings and Structures: Coverage for owned or leased buildings and structures used for business operations. This includes protection against risks like fire, lightning, windstorm, hail, vandalism, and other perils specified in the policy.
• Business Personal Property: Coverage for business-owned assets such as furniture, equipment, machinery, inventory, and supplies. These items are protected against similar risks as buildings, both inside the premises and temporarily outside.
• Loss of Income (Business Interruption): Compensation for lost income and operating expenses if the business is unable to operate due to a covered loss, such as fire or other property damage. This coverage helps maintain cash flow and cover ongoing expenses during the recovery period.
• Extra Expense Coverage: Reimbursement for additional expenses incurred to minimize or avoid a business interruption after a covered loss. This can include costs for temporary relocation, renting equipment, or expedited repairs to get the business back up and running quickly.
• Equipment Breakdown: Coverage for repair or replacement costs of mechanical, electrical, or pressure systems due to sudden breakdowns. This can include heating and cooling systems, boilers, and production machinery.
• Debris Removal: Reimbursement for costs associated with removing debris after a covered loss, such as demolition, cleanup, and disposal of damaged property.
• Utility Services Interruption: Compensation for lost income and extra expenses resulting from interruptions in utility services (e.g., electricity, water) caused by a covered loss.
• Outdoor Property and Signs: Coverage for outdoor property, including fences, landscaping, signs, and other structures located on the business premises.
• Loss of Accounts Receivable: Protection for unpaid invoices or accounts receivable records that are lost or damaged due to a covered loss.
• Valuable Papers and Records: Coverage for the cost of restoring or replacing important business documents, such as contracts, financial records, and client information, that are damaged or destroyed.