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.