What Is Commercial Property Insurance?
Commercial property insurance helps protect your owned or rented building, plus the tools and equipment you use to operate your business. It covers losses from many sources, such as:
- Fire
- Burglary
- Theft
- Wind
- Lightning
For home-based business owners, this type of commercial insurance provides more coverage than homeowners insurance. You may have heard other names for this type of insurance, like:
- Commercial building insurance
- Business personal property insurance
- Commercial real estate insurance
- Non-residential building insurance
What Does Business Property Insurance Cover and Why Is It Important?
What does commercial property insurance cover exactly? Commercial building insurance helps protect your business’ physical assets, such as your:
- Building
- Equipment
- Tools
- Inventory
- Furniture
- Personal property
Commercial property insurance is important because without it, your business would have to pay out of pocket to repair or replace your business property if it’s damaged by a covered loss. This coverage also includes business interruption insurance, which will help replace your lost income in case you can’t operate your business because of covered property damage.
