COMMERCIAL PROPERTY INSURANCE
Contact
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Landline: (227) 250 - 0009
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Licensed in MD, PA, NJ, VA, DE
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For Business Entities and Individuals
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Flood Insurance
Commercial Property Insurance
Commercial property insurance safeguards your business by providing broad protection for building, equipment, Inventory, furniture, business personal property, and more. It is designed to cover losses resulting from events like fire, burglary, theft, wind, lightning and other natural or manmade disasters, ensuring your business can recover quickly. You may have heard other names for this type of insurance, like:
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Commercial building insurance
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Business personal property insurance
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Commercial real estate insurance
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Non-residential building insurance
How Is the Cost Calculated?
Commercial property insurance cost vary depending on so many factors, typically they are:
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Location: If your business is located in a populated area that has higher risk for crime or vandalism, you may pay a higher rate.
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Construction: Materials used in the construction of your business can impact your commercial property insurance cost. For example, buildings made from fire-resistant materials will typically cost less to insure.
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Occupancy: Businesses with larger amounts of people consistently on the premises, like restaurants, will likely pay higher insurance costs.
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Fire and threat protection: Installing safety features like smoke detectors and burglar alarms at your business may help lower your rate.
Key Categories of Commercial Property Insurance
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Building Coverage
Owning a commercial building means protecting your investment against unforeseen risks. Building insurance ensures you’re covered for damages caused by events such as fires, storms, or vandalism.
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Business Personal Property (BPP) Coverage
This coverage protects the assets located at your business premises, including furniture, fixtures, equipment, and inventory, ensuring your valuable property is secure from damage or loss.
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Electronic Data Processing (EDP) Insurance
EDP insurance is tailored to protect computer systems and related technology, which are often inadequately covered under standard property policies. This specialized coverage addresses risks like power surges, cyberattacks, or damage caused by computer viruses.
If your business operates in a flood-prone area or if you wish to secure flood insurance for your commercial property regardless of its location within a designated flood zone, obtaining a standalone flood insurance policy is essential. This specialized coverage provides protection against financial losses caused by flooding events that are typically excluded from standard commercial property insurance policies.
Deductible is also included with the commercial property insurance. You should always make sure your deductible is NOT so high that you’d struggle to cover the repair costs before your insurance kicks in.