What Is Covered By a Commercial Property Policy?

commercial insuranceCommercial Property Insurance Basics

In order to properly and efficiently operate your business, chances are that you own a lot of property. If a fire wipes out your entire building, you may not have the finances needed to completely replace all your equipment and rebuild. Investing in a commercial property insurance policy can help to ensure that you are not financially devastated due to one unfortunate situation at your company.

A commercial property insurance policy will provide coverage for many different aspects of your property from a variety of perils. Some of the most common factors of your business that a personal property insurance policy will cover include:

  • Outdoor signage
  • Furniture
  • Building structures
  • Computers and other related equipment
  • Artwork and fixtures
  • Raw materials
  • Inventory
  • Specialty equipment

While commercial property insurance will provide coverage from a wide range of incidents, it still may not be enough for your company. Investing in a rider or endorsement will help to protect any high-dollar specialized items that are used by your business. A rider simply adds on extra coverage to your existing commercial property policy, and is designed to protect specific items that are listed.

There are two main options to choose from when looking into a commercial property insurance policy. The first is an all-risk policy, which will cover many different perils, including fire, storms, theft, and vandalism. The second is a peril-specific policy, which will only cover damage that is caused by a peril specifically listed, such as an earthquake or flood.

For all of your commercial insurance needs, contact the insurance experts at Alliance Group in Fairport, New York. As an independent insurance company, we will work with you to make sure that you have the right amount of protection, all at the right price to fit your budget.