Commercial Property Insurance
Commercial Property Insurance
Commercial property insurance covers the physical assets your business depends on: the building you operate from, the equipment inside it, your inventory, your tools, your computers, and the income those assets produce when they're working.
What is typically covered
- Buildings you own or are responsible for under a lease
- Business personal property (furniture, fixtures, equipment, supplies)
- Inventory and stock
- Tools and equipment, on premises and away from
- premises
- Tenant improvements and betterments
- Business income and extra expense after a covered loss
- Outdoor signs, fencing, and landscaping (with limits)
Replacement cost vs. actual cash value
Replacement cost pays to repair or replace property at today's prices, with no deduction for depreciation. Actual cash value pays the depreciated value. Replacement cost is almost always the better option, even though it costs slightly more.
Risks to think about beyond fire
- Wind and hail
- Water damage from plumbing or HVAC failures
- Theft and vandalism
- Equipment breakdown
- Spoilage when a freezer or cooler fails
- Flood (separate policy required)
What to have ready for a property review
Bring your current declarations page, a copy of your lease if you rent, and a rough inventory list. We'll identify gaps and quote it.
Call our Highland office at 219.923.2131, or request a free quote online.