Commercial Property Insurance

One of the most common types of business insurance is commercial property insurance, which provides a wide range of coverage for buildings, inventory, equipment, tools and more. Losses from fire, break-in, vandalism, wind and other natural or man made disasters are examples of what is typically covered.

A basic commercial property insurance policy may be all you need, although the types of coverage can vary between different insurance companies. As an independent insurance agent, Pepper, Johnstone & Co. can help you determine the type of insurance policy and range of coverage that is best for your business.

For a full list of coverage available, or to learn more about this business property insurance, contact us today.

What Is Commercial Property Insurance?

Commercial Property Insurance is a business insurance policy that covers your company and its physical assets in the event of fire, storms, theft and vandalism. Generally most policies exclude flood as a covered cause of loss. This means that you would need a separate policy to protect from floods and resulting damage.

About Commercial Property Insurance

Insuring Buildings
Do you own a commercial building? If so, do you have enough commercial property insurance to cover replacement costs? Although cost estimators are available, we recommend that you secure an appraisal from a third party to accurately determine the current replacement cost of your building. Give us a call today, and we’ll help you determine if you have enough commercial property insurance for your business.
Flood Insurance
Most commercial property policies exclude flood as a covered cause of loss. A separate policy must be purchased to protect you from resulting damage. Check your current property insurance policy to be sure you are covered. If you’re unsure, just ask us to review your insurance policy, and we’ll help you find the best solution.
Business Personal Property Coverage
Business personal property insurance covers property at a specified location such as furniture, fixtures, equipment and inventory. Be aware that most commercial property policies have very limited coverage for property taken off the specified location. If you have equipment that is frequently taken off-site to various locations, it is important that you have an inland marine policy (equipment or installation floater).
Business Income (Business Interruption Coverage)
This coverage reimburses a business owner for lost profits and fixed expenses during the time that a business is closed. It applies while the premises are being restored because of damage from an event such as a fire. Business income insurance may also cover financial losses that occur if civil authorities limit customer access to your neighborhood or business after a disaster. We strongly recommend that all businesses acquire this coverage.
Electronic Data Processing (EDP) Insurance
This coverage is separate property coverage specifically designed to protect your computer related equipment. Most commercial property policies have limited coverage for computer networks. EDP broadens the causes of loss to include things like power surges and in some cases virus attacks.

How Much Does Commercial Property Insurance Cost?

The price of commercial property insurance can depend on a variety of variables. You want to get a policy that covers the full value of all of your assets including your business. This includes computers, the building, any furniture, inventory, and important documents. The total cost of your insurance policy will depend heavily on the value of all of these things. Other factors will play a part as well. Location, occupancy and fire protection are some of the external factors that will influence the cost. Buildings that are more prone to damage will pay a bit more than buildings that are generally safe and built with safety in mind.

Pepper, Johnstone & Co. understands the Athens business insurance needs of our clients. The right coverage for you is unique – call us today to find out how to protect your business and your future with the right insurance.