Commercial Property Insurance
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Commercial Property Insurance Information
Commercial Property Insurance
All businesses create products, even if those products come in the form of services. To execute those services, the business owner will utilize various materials and equipment of all shapes and sizes. All these property assets are worth money and without them you wouldn’t be able to do your job. You must have property insurance as part of your commercial insurance benefits, as a result. It is there to help you replace property damaged or lost due to unexpected incidents.
For assistance getting the commercial property insurance that is best for you, contact Arnold Bruce & Doerfler Insurance at (503)-222-1951 or click here for your free quote.
Common Commercial Property Insurance Questions
Who needs commercial property insurance?
Every business owns property of some shape or form, and this physical property also equals monetary value. If something were to happen to it, then not only could you be faced with the costs of repairing or replacing damaged items, but your business might also be unable to operate at its full capacity.
Under such circumstances, you might face the prospect of significant financial hardships. To aid you through your recovery, property insurance will provide the necessary financial resources.
What does commercial property insurance cover?
Property belonging to your business that is insurable under commercial property insurance includes:
Policies will only cover property damage resulting from covered perils. These include unexpected, unavoidable accidents like fires, severe weather damage, theft or vandalism. However, accidental loss or intentional damage to materials are not covered.
How much commercial property insurance do I need?
Your agent will guide you through the process of choosing the proper limits for your property coverage. At times, you will need more expansive benefits including:
Inland Marine Insurance: Covers items when transporting company property or third-party property away from your main location (such as to a work site).
Bailee’s Customer Coverage: When a customer leaves their belongings in your care, they could be damaged in a covered peril. This coverage will pay for the losses.
Business Income Coverage: When your property sustains damage, you could face a halt in operations or loss of income as a result. This benefit can help you recover the lost money.
How much does commercial property insurance cost?
Though various factors will affect the ultimate cost of your commercial property insurance premium, our agents are committed to helping you finding the most cost-effective solution for your budgetary needs. Small business owners should consider bundling their commercial property insurance into a business owners policy (BOP), which provides essential commercial benefits in one place and at one price.
Does Commercial Property Insurance Cover Personal Belongings?