Beyond protecting the business you operate, and the people who work for you, we want to make sure the property you use every day is covered as well. While your operations and employees offer the typical risks that need coverage, damage to property or equipment can be unpredictable.
Fire, storms, flood, lightning, or other damage can come at you in the blink of an eye. That’s why we build custom insurance policies to give you a plan of action when disaster strikes.
Business Property Insurance Covers …
- Your building, equipment, computers, inventory, furniture and fixtures.
- Lost business income should operations be suspended due to an approved loss.
- Business equipment damaged by power surges, mechanical breakdown, burnout or operator error.
- Employee theft or other burglaries.
Basic Form Policies cover common misfortunes like:
- Civil Commotion
- Sinkhole Collapse
- Sprinkler Leakage
- Vehicle Damage
Broad Form Policies cover all basic misfortunes, plus:
- Building Collapse
- Falling Objects
- Ice or Sleet
- Water Damage
- Weight of Snow
Special Form Policies cover the risks from all direct physical loss except some exclusions, including:
- Acts of War
- Damages from Flood
- Earth Movements
- Insects & Vermin
- Nuclear Disaster
- Wear & Tear
What is the difference between replacement cost and actual cash value coverages?
Most commercial property policies provide you with the choice of taking either replacement cost or the actual cash value in the event of a loss. Replacement cost coverage will pay to rebuild or repair your property, based on current construction cost. Replacement cost is different from market value and doesn’t include the value of your land. Actual cash value will pay for those same repairs to your property minus depreciation – the decrease in value due to wear and tear or age of your property/equipment. If your business is destroyed and you only have actual cash value coverage, you may not be able to completely rebuild.
What if I rent my building, would this policy still apply to me?
Business owners can buy commercial property insurance regardless of whether they own, rent, or lease their building and/or equipment.
Would this policy cover damages caused by my property being vandalized?
Yes, vandalized property is typically covered under a Commercial Property policy.