Building and Property Insurance pays to repair or replace stolen, lost or damaged property that belongs to your business. This includes 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.
Your business assets keep your business running. With commercial property insurance, you’ll be able to afford repairs for necessary equipment after an unexpected event like a fire or a break-in.
Most small business lenders require proof of commercial property insurance throughout the life of the mortgage. Although commercial landlords carry their own insurance for their buildings, they do not take responsibility for any expensive property you as their tenant make keep in their building.
Do you need Building and Property Coverage?
Most small business owners need this type of coverage because of one or more of the following criteria:
- Own or rent a building, store, or office
- Own or rent expensive equipment or tools
- Have products or inventory
- Depend on other valuable business assets
Want to learn more? Contact our small business risk experts.