Commercial Real Estate Insurance

Commercial Real Estate Insurance

This policy can pay to repair or replace business property that is stolen, lost, or damaged. It covers a business’s building and its furniture, supplies, inventory, and equipment.

When do businesses need property insurance ?

Any business that owns a building, inventory, or equipment could benefit from property insurance. This policy can help repair or replace business property that’s damaged, stolen, or destroyed.

Commercial landlords often require their tenants to have property coverage. Usually, they want you to purchase a policy that covers only your contents in the leased space.

Commercial Real Estate Insurance Features

As the owner of a business, you know how difficult it is to run a smooth operation. The last thing you need is a disaster that damages your workplace so badly that you can no longer continue operating. Commercial real estate insurance makes the crisis something you can handle. Before you start shopping, though, here are a few things to keep in mind :

  • The first thing you should do is take stock of the company's physical assets. This includes your building, any paper records, inventory, office equipment, signs located outside, and anything else that qualifies as a physical asset.
  • You may not need to insure everything the business owns. If you decide something is not worth insuring, removing it from your policy could lower your monthly premiums and make it easier to insure what truly matters.
  • Most policies cover either the replacement cost (RC) or the actual cash value (ACV) of the insured items. Policies that include replacement cost are more expensive, but allow for full replacement without calculating any depreciation. Actual cash value policies consider the loss of value over time, and factor this difference in to any claims on the policy.

If you're not sure which policy options make the most sense for your company, ask one of our agents for more information and they'll help you make a decision.