What Does Commercial Property Insurance Cover?

Commercial property insurance is a core element of many business insurance packages and is essential for overall risk management and loss control purposes. Even in the digital age where many companies conduct operations virtually, tangible assets remain necessary. Conference rooms may have previously housed crucial equipment, but laptops and tablets are now needed to access online video meetings. Regardless, financial protection for physical property remains essential.

Can Policies Cover All of My Company’s Property?

Commercial property insurance is typically tailored toward financially protecting physical assets from many common perils, including fires, explosions, criminal acts and some types of severe weather. Whether you operate in a large office building or from the comfort of your own home, the right policy can offer versatile coverage for many types of property. Specifically, many companies might find value in coverage for the following:

• Buildings
• Electronic devices
• Tools
• Equipment
• Inventory
• Office furniture
• Signage
• Landscaping

Are There Exceptions?

Indeed, there may be various exceptions and exemptions within standard commercial property insurance policies. You should be aware of your coverage’s capabilities and limitations when purchasing a policy, as finding out something isn’t covered after an incident has occurred would mean potentially expensive out-of-pocket losses.

Consider the following common exceptions:

• Off-site losses—If you move property elsewhere, such as to a job site or client’s location, you’ll typically need inland marine insurance to maintain coverage.
• Natural disasters—Many natural disasters, such as floods and earthquakes, are not covered by standard policies, meaning you’ll need enhanced insurance.
• Equipment breakdowns—Commercial property insurance generally focuses on covering outside threats, such as fires, burglaries and vandalism. Equipment breakdown insurance is essential if you want to ensure financial aid following machinery malfunctions.

We’re Here to Help

Contact JSW Insurance in Dublin, CA, today to discuss commercial property coverage and find the right policy for your business.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.