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Certain Exposures Require Commercial Property Insurance

commercial property insurance

As a commercial property owner, you need insurance that will aid you in paying to repair or replace buildings, structures and any other assets that are destroyed or damaged by events or issues covered by your policy. You’ll need this protection if, for example, a fire was to break out and destroy the building and all of the contents, or a storm causes damage to signage, fences and other structures. It could be a water pipe bursting, or high winds or torrential rains, any of which could cause structural damage rendering the building uninhabitable.

 

A commercial property insurance policy is designed to protect your company from many property and liability exposures, including risks that are commonly excluded from standard policies. As a business owner you need to make sure that the company is properly insured.

You have a lot at stake and not being insured is literally “playing with fire.”

 

You need coverage for environmental concerns as well

 

This is an area that is particularly important because, as the property owner, you could be held liable for any number of environmental risks, including mold, lead, asbestos, and other indoor air quality exposures that can cause ailments to those that occupy the building. Having improper or inadequate storage and/or disposal of waste materials can present serious liability issues.

 

It’s important to consider all of the different types of risks you face based on the region where you have your operations. Different regions are subject to different risks. Companies operating in the state of Florida have major storms that often create quite a large amount of damage and this can result in extended periods of business interruption.

 

Speak to an agent about the types of commercial property insurance policies available and exposures you will likely want to insure against. Policy terms and premiums vary depending on what kind of business you are in as well as where you are located. Coverage is available to business owners who own, rent or lease the property they operate their business in. No matter what sort of business you are running, or where you are located, there are appropriate commercial property buildings insurance policies suitable for your needs.