Property insurance

The size of your building, the value of your equipment, and other factors help determine the cost of property insurance.

Business property insurance can pay for repair or replacement of stolen, damaged, or destroyed business property.

Commercial property insurance is a form of insurance that protects the property owned by your business – your building, equipment, store fixtures, and more. It pays to replace or restore stolen items and items damaged or destroyed by fires, windstorms, and other events.

The replacement value is how much it would cost to buy a brand-new replacement for a destroyed or stolen item.

Opens perils coverage refers to a type of property insurance that covers damage to your possessions from all causes except those your policy specifically excludes.

Equipment breakdown coverage is a form of commercial insurance that provides funds to repair or replace damaged machinery or equipment that has suffered a mechanical or electrical failure.

The actual cash value (ACV) is the current value of an insured item.