Commercial property coverage, also called business property insurance, is an important part of your small business coverage. It protects you from many of the risks that come with owning or renting a space for your company.
In many cases, landlords and mortgage lenders require commercial property insurance coverage. However, investing in a policy is a great choice either way. That way you can enjoy the peace of mind that comes with knowing your business is safe.
What is Covered Under Commercial Property Insurance?
A commercial property insurance policy protects your business from physical losses including:
Owned and Rented Buildings – Whether you’re using a storefront or an office, your commercial property coverage protects the building itself from fire, burglary, lightning, wind and more.
Furniture and Other Items – Many of the items inside your business, such as desks, chairs, lighting fixtures, and more, also have protection.
Supplies and Equipment – Your commercial property insurance policy also protects office supplies and equipment. This includes things like computers, registers, or anything else you need to do business.
Inventory – This is especially important for retail stores and similar businesses. In the event of a loss, your policy protects your business’ product inventory.