Commercial property insurance is one of the most common types of business insurance. This type of insurance is protection for buildings, equipment, inventory and other valuables against losses caused by fire, theft or vandalism.
Coverage Built for Commercial Properties
Individuals or businesses who own property used for commercial purposes, require Commercial Property insurance to protect the building and its contents when damaged. The policy is provided to pay for repairs or replacement of the building and its contents.
Typically, this coverage is provided as part of the Business Owner’s Policy (BOP) or as part of a Commercial Property Package. The benefit of purchasing the coverage as part of a package is that the property owner would also benefit from other included coverages such as General Liability and Business Interruption coverage. The coverage can, however, be purchased as a stand-alone policy that typically includes the following:
- Building Coverage – The building coverage covers the structure as well as permanently installed fixtures, machinery and equipment, fixtures that are outdoors, and items or equipment you use to maintain and service the building.
- Business Personal Property (Contents) – includes office equipment, office furniture, inventory, electronic equipment, and other business personal property that is not attached to the building.
- Property of Others – Many businesses that are considered repair shops, will have the property of others left overnight or longer while under repair. This coverage pays to repair or replace the property of others.
- Business Interruption – Many insurers will allow you to endorse this valuable coverage onto the policy. The coverage reimburses the business owner if, due to a covered peril, the business must temporarily relocate to another location and is faced with additional expenses for that relocation.
Commerial Property Insurance for CA Businesses
The Insurance Store can help you determine the type of commercial property insurance and what coverages best fit the needs of your business. As an independent agency, we work for you! We quote with numerous California property insurance companies to provide you with the best coverage for the right price.
If you would like a personalized quote for commercial property insurance in California, please call us toll free at 800-354-8535. Our team is here to guide you through the process of finding the right property coverage and will explain everything so you understand the policy and what it covers.