Commercial property insurance is a must-have policy for any business owner as this coverage will protect you from a major loss as a result of theft, natural disaster, and other damages to your company’s assets.

It’s nice to think that your company’s belongings will never be stolen, set on fire or otherwise damaged, but it’s even better to be prepared in order to avoid losing a potentially large amount of money. A commercial property insurance policy is similar to a homeowner’s policy at its core, but it can be at a much larger scale due to the higher amount of risk.

If you’ve ever considered this type of coverage but didn’t know where to start, we’re here to help! Below are a few key questions you may have and our answers to them:

 

What does this policy cover?

A commercial property insurance policy covers several types of buildings including the following:

  • Apartment Buildings
  • Shopping Centers
  • Office Buildings
  • Warehouses
  • Industrial Parks
  • Self Storage
  • Bed & Breakfasts
  • Motels and Hotels

The word “property” applies to the building itself, its contents, and other people’s items on the premises. You can be reimbursed for any money paid minus your deductible.

It’s important to remember that not every situation will be covered. As with homeowners insurance, damage caused by a flood is not covered and requires a separate policy. Earthquake damage is not covered either. However, other weather-related losses such as fire, hail, and freezing entitle you to compensation from your insurance company.

How much does it cost?

Your annual premium for a commercial property insurance policy will vary depending on several key factors; for example, is your business located in an urban, suburban, or rural setting? How many people are in your building on a regular basis? If you’re located in a big city with hundreds of clients going in and out of your door every day, your premiums are naturally going to be higher than a suburban office that only houses a handful of employees.

Essentially, the bigger the risk you’re perceived to be by insurance carriers, the more you’re going to have to pay. It’s a good idea to take inventory of all your assets before requesting a quote in order to make the process as quick and easy as possible.

Where can I get this policy?

Give Risk Averse a call at (610) 335-1139 or simply fill out the form at the bottom of this page to request a quote, and we’ll be in contact with you within 24 hours. Since we’re an independent broker, we’ll shop for the best price so that you can get the coverage you need at a price you can afford. All the major carriers provide commercial property insurance coverage, so we’ll be able to get a variety of options for you based on your business’ specific needs.

 

Call Risk Averse Insurance in Media, PA to discuss commercial property insurance for your business.

Risk Averse Insurance is an independent insurance agency in Delaware County that specializes in providing high-quality insurance products at an affordable price.

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