If you have a fire or water emergency, please call us now at (347) 233-2305

To have the optimal experience while using this site, you will need to update your browser. You may want to try one of the following alternatives:

Fire & Water - Cleanup & Restoration

Should You Get Commercial Property Insurance?

6/28/2019 (Permalink)

Commercial fire damage

If you own a commercial property or business, you have a lot on your plate. If you haven't already, you should look into your commercial insurance options, so you aren't left high and dry should any sort of emergency occur. There are several important aspects to consider when tailoring you insurance to your specific needs.

What Does It Cover?

This type of insurance protects your commercial property against all sorts of disasters. Depending on where you are located and after an assessment of risk, you should determine what areas you would like your insurance to focus on. For instance, if your business is in a location that frequently experiences tornadoes, you should more heavily invest in that genre of coverage. Some common sources of risk include:

  • Fire damage
  • Flood damage
  • Other natural disasters, like earthquakes
  • Theft and vandalism

What Exactly Should You Insure?

The most obvious part of your property to consider insuring would be the buildings that contain your business operations. Commercial insurance can be applied whether you own or rent those buildings, so that services such as fire remediation can be applied when appropriate. You are also able to insure all supplies and equipment within those buildings, including furniture and electronics. Less tangible assets like records, documents and databases are also insurable.

What Will It Cost?

To determine how much you will pay, first you will need to figure out the total value of your physical assets. Most likely you will meet with an agent to discuss the coverage you want and what it will cost per the amount of property you own. Luckily, as a business, you can usually deduct the cost of your insurance as an expense on your taxes, which should give you a substantial break.
One of the smartest things you can do for your commercial property is to protect it from any potential threats it may face with the proper commercial insurance. Make sure your business can thrive no matter the circumstances.

Other News

View Recent Posts