Category Archives: Commercial Insurance

Commercial Property Insurance

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What Is Commercial Property Insurance?

Commercial property insurance is an essential coverage for business owners, especially when running a home-based business. It helps protect the owned or rented property that you use to operate your business, such as your:

  • Building
  • Equipment
  • Tools
  • Inventory
  • Furniture
  • Personal property

For home-based business owners, this type of commercial insurance provides more coverage than homeowners insurance. You may have heard other names for this type of insurance, including:

  • Commercial building insurance
  • Business personal property insurance
  • Commercial real estate insurance
  • Non-residential building insurance

What Does Commercial Building Insurance Cover?

Commercial building insurance helps protect your business’ physical assets, like your owned or rented building and the equipment you use to operate your company. It can help your business if:

  • A fire damages or destroys your computers
  • Lightning strikes the building that you have business renters insurance on
  • Someone breaks into your building and steals your inventory

It can also help protect business assets, like income, because it includes business interruption coverage. If you can’t open because of covered property damage, this coverage can help replace lost income.

We know every business has unique needs. That’s why we’ve made it easy for you to customize your commercial property insurance policy. You can add more protection for things like valuable papers and records, which can help cover your costs to:

  • Reproduce important documents
  • Provide temporary storage
  • Move records to avoid a loss

What Doesn’t Commercial Property Insurance Cover?

Be aware that your commercial property insurance policy doesn’t cover every type of property damage. This coverage can’t help your business if:

  • Your customer drops their laptop when they trip over a box in your office
  • One of your employees puts a hole in your client’s wall
  • You get into an accident while making a delivery to a customer and damage your vehicle
  • A nearby brook overflows after a heavy rainfall causes flooding near your building and damages your inventory
  • You or your employees intentionally damage property
  • You can get other types of commercial insurance to give your business comprehensive coverage that can help cover these kinds of claims.

Bundle Commercial Property Insurance With Essential Coverage Through a Business Owner’s Policy (BOP)

You can get commercial property coverage as a standalone policy. But many small businesses choose to get a Business Owner’s Policy (BOP), which combines three essential coverages into one:

  • Commercial property insurance, explained throughout this page.
  • General liability insurance to help cover claims that your business caused bodily injury or property damage to someone else.
  • Business income insurance, or business interruption insurance, to help replace your lost income if you can’t open because of covered property damage.
  • Get a commercial property insurance quote to find out how this coverage or a BOP can help your business.

Learn How To Reduce Your Risk Exposure

There are steps you can take to help reduce your company’s risk exposures. For example, you can create a plan to regularly examine and test your company’s alarm and sprinkler systems in your building or home office. This gives you an opportunity to fix any issues and make sure you’re prepared for a disaster.

Bigger companies that need large business property insurance can work with our risk engineering consultants to:

  • Create a safe work environment
  • Help reduce loss
  • Improve operations

 

Commercial Property Insurance for Your Business

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Business and Commercial Property Insurance

Creating a comprehensive plan is important when it comes to small business insurance. We make it our business to figure out the best way to have your back. It’s why we offer a wide range of insurance to help protect your company. You can combine different types of coverage into cost-effective endorsements to add to your policy.

Get a quote today and learn how we can help protect your company with commercial property insurance.

Common Questions About Commercial Real Estate Insurance

 

Do I Need Commercial Property Insurance?

If you own, rent or lease commercial property of any kind, then you should have commercial property insurance. Although it’s not required by law, it’s something you may want to consider. Without it, you’re responsible for paying the costs to fix or replace your damaged business property. This can be expensive and the out-of-pocket costs can put your company at financial risk.

What Is Evidence of Commercial Property Insurance?

Evidence of commercial property insurance is also known as proof of insurance or a certificate of insurance (COI). Your company may need a COI to prove you have commercial property coverage to help protect your business property. We know your time is valuable, so we make it quick and easy to get a certificate of insurance online.

What Are the Different Types of Commercial Insurance?

There are many different types of commercial insurance. Each coverage can help protect your company from various claims. Other types of commercial insurance include:

  • Commercial auto insurance
  • Commercial flood insurance
  • Commercial umbrella insurance
  • Errors and omission insurance
  • Workers’ compensation insurance

What Is the Standard Deductible in a Commercial Property Insurance Policy?

Deductible amounts can vary by state and between insurers. They can range from a couple hundred to a few thousand dollars. You’ll choose a deductible amount when you get your commercial property insurance policy. Generally, if you pick a higher deductible, it’ll lower your commercial property insurance cost.

You can check your policy if you’re unsure how much your commercial property insurance deductible is.

Business insurance coverage is critical to protecting your company from risks, including property loss and repairing or replacing property, such as after a fire, storm or theft. Business insurance can help cover the costs of legal claims made against your business and can help cover an injured worker’s lost wages. Without insurance, a significant loss could be devastating to the livelihood of your business. Some states also require businesses hold certain types of insurance coverages in order to legally operate there.

Workers compensation insurance can help protect both you and your employees after a work-related injury. General liability insurance can help protect your company in the event that someone makes a claim against it. Management and professional liability insurance can help protect you from a range of risks, from Errors & Omissions to Cyber Risk.

For small businesses, a Business Owner’s Policy, also known as BOP insurance, combines three critical coverages – Commercial General Liability, Commercial Property, and Business Income and Extra Expense coverage – into one convenient policy.

Business Property Insurance That Protects Against Exposures Today and Tomorrow

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Business Property Insurance That Protects Against Exposures Today and Tomorrow

Having the right commercial property coverage could mean the difference between a minor disruption to operations and a major financial loss. As one of the largest commercial property writers in Florida you can trust L and C Insurance to have a deep understanding of your everyday challenges, as well as the expertise, resources and strength to help keep your operations running smoothly and your business resilient.

We offer commercial property protection for a wide variety of industries and businesses ranging from small to large to highly complex. We understand the evolving risks our customers face and offer solutions to address them. Our property insurance policies can be tailored to meet customers’ coverage needs by providing:

  • Coverage confidence
  • Built-in flexibility
  • Services that matter
  • National scale with local presence

What Is Business Property Insurance?

Business property insurance is coverage that can protect your company’s physical assets from unexpected events, including fires, windstorms, theft and vandalism. Physical assets covered by commercial property coverage could include the business property you own or rent, office equipment, furniture, fixtures, inventory and other items you count on to support your daily operations.

Through built-in loss prevention services, business property insurance can also deliver a competitive advantage by helping you identify and manage property-related risks specific to your company, allowing you to remain focused on your business. L and C insurance providers has expertise across many industries, helping companies identify and reduce property risks.

When an unexpected loss causes disruption or even temporarily shuts down your business, your ability to recover quickly is critical. L and C Insurance providers has access to commercial property insurance markets that can provide the support and financial assistance needed to get your business back up and running.

Who Is Commercial Property Insurance Coverage Right For?

Commercial property insurance is for all businesses, especially those that have buildings, critical equipment and assets, or access to customers and suppliers.

Read on to understand how our commercial property insurance can help your business stay resilient in times of loss and catastrophic events in our ever-changing world.

  • Small Business
  • Midsized Business
  • Large Business

What Is Small Business Commercial Property Insurance?

L and C Insurance providers small business commercial property insurance can help protect the business property you own, lease or rent, including assets like your buildings, equipment, furniture, fixtures and inventory. It can also help cover the costs to repair or replace stolen, damaged or destroyed property, including property and equipment that isn’t yours but is in the care or custody of your small business.

Who Is Small Business  Commercial Property Insurance Right For?

  • Commercial real estate
  • Contractors
  • Financial services
  • Garages
  • Healthcare
  • Manufacturers
  • Personal care services
  • Pet care services
  • Printers and publishers
  • Professional services
  • Religious and cultural organizations
  • Restaurant and food service
  • Retail
  • Service businesses
  • Technology services
  • Wholesalers and distributors

 

Florida Commercial Insurance Coverage And The Various Steps Business Owners Should Consider

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Florida Contractor's Commercial Insurance

What falls under the scope of Florida Commercial Insurance?

 
There is more to Florida Commercial Insurance than merely ensuring that any commercial vehicle you operate in Florida is fully covered and insured. As such, we, at LNC Insurance Providers make a distinction between Commercial Insurance and Commercial Auto Insurance and work with A1 rated insurance companies to provide commercial coverage for the following products:

  • Truck insurance
  • Two truck insurance
  • Van insurance
  • Box truck insurance
  • Dump truck insurance
  • General liability insurance
  • Workers comp insurance
  • Contractors insurance
  • Business owner’s policy
  • Professional liability insurance

If you are reading this article, then you already know that being a business owner presents a range of challenges that can make or break a company. A lack of preparedness, namely a lack of a plan to acquire adequate insurance coverage for your business investment can indeed be one of many factors that could cause your business, any business to fail.

To that end, reaching out to the experts in Florida for Commercial Insurance Products could be the first and most important steps you can take right now to ensure that your company is properly and adequately protected.

Let's Talk About Commercial Insurance in Florida

Call us now and find out what you need to know.

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What constitutes the right kind of Commercial Auto Insurance in Florida?

If you need to insure a fleet of vehicles, trucks or vans, we can write policies that will offer protection against liabilities for property damage and bodily insurance.

LNC Insurance Providers recommendation include physical damage and liability protection under a sound policy coverage particularly when certain circumstances may present situations where a personal auto policy coverage may not be sufficient.

What about General liability insurance in Florida

It is important to remember that under Florida state law, a Florida general liability insurance is indeed required for most business owners. Such policy coverage is designed to protect FL business owners from direct and indirect damages to other parties. The right liability insurance will help business owners pay for damages when they are caused by the action of your business, and or business representatives. A Florida general liability coverage will provide payment towards property damage and or personal injuries even when those affected involve visitors, customers, and or sub-contractors. Call us today and let us walk you through your options, including the various levels of insurance deductibles and policy limits.

Do you really need Workers comp insurance in Florida?

Certain types of industries do require employers to provide workers comp insurance. For example, in Florida, construction companies with one or more employees are required to provide worker’s compensation insurance to their employees.  Florida Farmers must also carry coverage when they employ five and more workers. Florida has specific requirements as to the types of legal entity in need of insurance coverage. There are differences for example between sole proprietorships who would be typically unable to receive compensation benefits under a policy that is issued to the sole proprietor and businesses established as parnethership.

Florida workers compensation insurance falls under a complex set of guidelines and we highly recommend you call us for more information.

[su_note]Questions about Commercial Insurance in Florida? Let Liz and her team of experts give you the answer that matters.[/su_note]

Florida Contractors Insurance

If you operate a Contractor's business in the state of Florida, then you know that irrespective of the types of services you and your employees provide to your local community, the failure to have adequate insurance protection could be catastrophic for your business. Accidents, human errors and other unfortunate incidents can have a devastating effect on contractors who do no carry a Florida Contractor's Insurance.

What about independent sub-contractors? It is important to realize that every 1099 contractors in Florida need adequate liability coverage even if they work for a company who is already covered.  Indeed, enterprising lawyers are known to go layer by layer in search of the one source that will provide their clients the most compensation.  It may be that the company you contract for will be the one targeted, but there are circumstances where you too might the subject of such an inquiry.

Here are a the independent sub-contractors we provide coverage for:

  1. Electricians
  2. Plumbers
  3. Roofers
  4. Masons
  5. Mechanics
  6. Carpenters

 

[su_note]Questions about Commercial Insurance in Florida? Let Liz and her team of experts give you the answer that matters.[/su_note]

Florida Business Owners Package (BOP) Policy

Over the past few years, businesses have come under increasing pressure to trim their running expenses in order to stay afloat. Companies can look for savings in a variety of ways and unfortunately, sometimes may decide to take a gamble on the inherent foundation of their business investment: Florida BOP Insurance

Protection you cannot afford to be without. In an ideal world, businesses would never have to rely on insurance coverage for expenses, liabilities and claims caused by the actions of themselves or those of the people they employ or even service.  The sad truth is that accidents do happen and sometimes these accidents may be so severe that the entire premise of a business survival may in the balance. A Florida BOP acts as a protection in case of such accidents and may be the difference between a business that survive a particular challenge and one that doesn't because of the luck of insurance.

[su_note]Questions about Commercial Insurance in Florida? Let Liz and her team of experts give you the answer that matters.[/su_note]