Commercial Property Insurance
Commercial Property Insurance Information
Even as many businesses move parts of their operations into the digital world, commercial enterprises across all sectors continue to rely on certain physical assets. After all, even the various networks and cloud servers that may enable many online tasks require electronic devices and tangible infrastructure. Fortunately, the aforementioned equipment and other business necessities can often be financially protected by an essential investment: commercial property insurance.
What Is Commercial Property Insurance?
- As its name suggests, commercial property insurance is a type of insurance product that focuses on covering a business’s assets. A company’s policy acts as a contract between themselves and their insurance company and retains the right to file a claim following covered incidents, such as fires, burglaries and vandalism. While the exact details are customizable, commercial property insurance is typically able to render aid for losses involving the following:
- Electronics
- Tools
- Furniture
- Inventory
- Signage
- Landscaping
How Much Is Commercial Property Insurance?
Premiums may be subject to various commercial property insurance cost factors, including the following:
- Landscaping
- Location
- Industry
- Number of employees
- Square-footage of business premises
- Value of insured assets
- Endorsements
- Coverage limits
- Deductibles
Is Commercial Property Insurance Important?
Commercial property insurance is typically not required by law. Still, if a company has purchased its building with the help of a mortgage, its lender may require certain levels of coverage throughout the duration of the loan. Similarly, many landlords may require tenants to carry a commercial property insurance policy. Even if a business is not subject to official obligations, suitable coverage should be a top priority to limit potential out-of-pocket losses.
Get the Right Coverage
Choice One Network has served businesses, families and individuals in the Cutler Bay area since 1946. Using this ample experience and collective knowledge, our dedicated team will work tirelessly to ensure local companies acquire and maintain optimal coverage. Contact us today to learn more or to get a personalized commercial property insurance quote.
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