Commercial Property Insurance
Commercial Property Insurance Information
Businesses rely on many tangible assets to maintain daily operations and pursue future goals and growth. As such, incidents that may damage or disable physical property could have unfortunate effects on business continuity and efficiency. Without these
essential possessions, a business could lack the ability to fulfill obligations and earn revenue. With these situations in mind, commercial property insurance is a potentially invaluable investment.
What Is Commercial Property Insurance?
As its name suggests, commercial property insurance is a specialized type of property coverage intended for businesses. These policies can be tailored and customized to suit organizations of all sizes and across various industries. In exchange for regular (e.g., monthly) premiums, commercial property insurance companies may provide financial assistance to help policyholders repair, restore or replace their insured assets.
What Does Commercial Property Insurance Cover?
A commercial property policy can provide financial protection from many common incidents and perils, including fires, vandalism, theft and severe weather. Capabilities, limitations and other details may vary significantly depending on a business’s needs, preferences, budget and the insurer with whom they work. In most cases, commercial property coverage can recoup losses involving the following:
- Buildings
- Electronics
- Tools
- Equipment
- Inventory
- Furniture
- Signage
- Landscaping
It’s worth noting that commercial property insurance coverage often only applies to business assets located on the policyholder’s premises. Tools, equipment, or other property transported or stored off-site may require alternative coverage, such as that provided by inland marine insurance.
How Much Is Commercial Property Insurance?
When calculating a commercial property insurance quote, carriers may consider many factors, including the following:
- Lot square-footage
- Location
- Industry
- Structural details (e.g., type of building, age and construction materials used)
- Value of insured contents
- Estimated cost to rebuild insured structures
- Existing security features (e.g., surveillance cameras and fire suppression systems)
- Previous insurance claims
- Policy details (e.g., endorsements, deductibles and limits)
Get the Right Coverage
At Fusion Insurance Agency, we pride ourselves on ensuring the businesses of Kansas City, Kansas, and Kansas City, Missouri, are covered with the right policies. Contact us today to learn more or to get a tailored commercial property insurance quote.
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