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Commercial Property Insurance helps protect the computers, equipment, furnishings, inventory, supplies, and building your business relies on to operate smoothly.  In the event that they are stolen, damaged, or destroyed in a fire or natural disaster, Commercial Property Insurance can pay for repairs or replacements so your business doesn't have to miss a beat.

Without Commercial Property Insurance, most small businesses and startups would not be able to afford replacing their most valuable equipment, especially in the event of a disaster that damaged many items at once. With adequate property coverage in place, however, your business assets are covered, meaning that you will receive funds to replace them if they are harmed by a covered event. Many Commercial Property Insurance policies even protect property when it is located at an event other than your primary place of business.

Find out what kind of Commercial Property Insurance will protect your business: connect with one of our small-business insurance experts for an evaluation of your company's needs.


Commercial Property Insurance Explained

Commercial Property Insurance benefits can be used to repair or replace business assets that are stolen, damaged, or lost. A basic commercial policy helps protect your investments in business assets, including…

  • Office space owned by your business.
  • Fixtures.
  • Furnishings.
  • Inventory.
  • Supplies.
  • Equipment.

If your business meets certain criteria, you may be eligible for a reduced-price insurance package called a Business Owner's Policy or BOP. The BOP combines General Liability Insurance and Commercial Property Insurance. Talk to an Insureon agent to find out whether your business is eligible.


How Insureon Makes Buying Business Property Insurance Easier

Meet Your Insurance Needs Quickly. Work with our specialist agents to secure a certificate of insurance in as little as 15 minutes.

Coverage That Suits Your Business. Receive multiple quotes from the industry's leading insurance companies, and choose the one that aligns with your needs.

Intimate Knowledge of Your Industry. The agents at insureon are trained by industry, meaning you'll work with someone who knows insurance and understands the peculiarities unique to your line of work.

Custom-Built Coverage. We find policies that meet your exact needs. That means you don't have to pay for any extra coverage or worry about hidden fees.


Key Details About Your Property Insurance

Our Property Insurance is designed to help startups and small businesses quickly replace lost or unusable business assets. Here are a few things to consider when purchasing this type of coverage.

Replacement Value

You can choose to insure your assets for their full replacement value or their actual cash value. The replacement-cost option comes with higher premiums, but will pay the full amount required to replace items at current market cost. An actual cash value policy costs less, but pays only the amount of your property's depreciated value. If it's important for your business to recover quickly after a loss, or if you may lease equipment for which you are required to carry full replacement insurance, it may be best to go with a replacement-cost Commercial Property Insurance policy. On the other hand, if used replacement goods are readily available in your line of work, an actual cost value policy may be a cost-effective choice for your business. If you're unsure, ask Insureon's experts about the most common approach in your industry.

Renting Vs. Owning Your Office Space

If you own your office space, you can elect a policy that insures the building or space that houses your business. If you're renting, you may be able to purchase a basic policy that covers only the contents of your business space. Read your lease carefully to check for any insurance requirements the property owner outlines.

Understanding What Commercial Property Insurance Doesn't Cover

These policies typically cover business property for common loss scenarios, such as fire, theft, tornadoes or wind damage. Certain causes of loss, however, such as water damage or earthquakes, may not be covered. Read your policy carefully, and ask your agent about your options if you're concerned about a specific kind of risk that may be excluded.


Business Protection Tips

Investing in Property Insurance is an excellent way to protect your business against financial losses associated with property loss or damage, but insurance is only one part of the risk-management puzzle. To mitigate your risk factors (and even potentially reduce your premium costs), consider implementing these strategies.

Inspect for electrical hazards.

Many fires are caused by inadequate wiring and overloaded circuits. Have an electrician inspect your office or other business space to ensure that all wiring is correctly installed and can handle your business's electrical demands.

Keep valuables secure.

If you or your employees conduct business away from your office, never leave portable computers or other equipment or materials unattended. Restrict access to work areas if you must leave the work site, or take valuable items with you if you can.

Know how to protect your transit equipment.

If your business model involves transporting property over land or includes structures or technology used in transportation or transmission of information, be sure to ask your agent whether you need Inland Marine Insurance. This is a kind of Property Insurance that protects a specific type of professional asset, and can help keep your business assets safe from loss.

Carry adequate coverage limits.

Many small businesses underestimate the costs required to replace their assets in the event of a loss and find out too late that they didn't have enough coverage. For help evaluating exactly how much property insurance your business really needs, contact the small business insurance experts at Insureon.