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Cover your business against damages to your buildings and business property.

Commercial Property Insurance is designed to cover businesses and other organizations against damages to their buildings and business personal property due to a covered cause of loss. Buildings can be insured in a wide variety of ways in terms of valuation, such as replacement cost, agreed value, functional replacement cost, and actual cash value. The kinds of losses that are covered can also vary depending on the type of policy form the coverage is written under, such as basic perils, broad perils, or special perils form.

Many causes of loss are not covered under most commercial property policies unless endorsed onto the policy for additional premium. These include perils such as flood and earthquake among others.

It is important to understand the co-insurance clause in a commercial property policy. Co-insurance is a way for insurance companies to make sure that buildings are not being insured at values less than the amount actually required to adequately cover the building. There can be heavy penalties in terms of a claim settlement in the event of a partial or total loss if the building does not meet co-insurance requirements. It is important to discuss this concept with your agent to get a full understanding of how this clause works to make sure you are covered properly.

If you are interested in obtaining commercial property coverage for your business or organization with one of our many reputable insurance carriers, our team of licensed and experienced agents will be happy to help you. Call us today toll free at 1-800-686-2147.