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Commercial Property
Your buildings, structures, and business property may be some of your business’s most valuable assets. Commercial property insurance is used to restore the property when a building/structure is damaged or when property is stolen. We are here to help you determine the correct amount of coverage needed so that you do not experience a financial loss if the property is damaged.
Commercial Property FAQs
What deductible should I choose for my buildings?
Most insurance companies set the minimum deductible at $1,000, while the average policy deductible is closer to $2,500. It is best to evaluate your risk and work with us to determine the best deductible for your situation.
I lease a unit in a building I do not own. Do I need commercial property coverage?
Yes. Commercial property could include betterments, installations, fixtures, furniture, equipment, window coverings, and much more. Whether improvements made to your unit are considered your property or the building owner’s may depend on the contract and the insurance companies. We can work with you to determine the appropriate coverage for your unique situation.
All or a portion of my property is rented to others. Is the property owned by the tenant covered under my policy?
No. Only the property you own and list in the Commercial Property policy is covered. The tenant must have an insurance policy to cover their property and liability.
As a property owner, the tenant’s liability coverage is important because it will respond if the tenant is negligent and causes damage to your property.
