Have You Purchased Commercial Property Insurance for Your Small Business
welcome to my Channel please like comment and subscribe there are many types of accidents that can cause a major penaltial setback for a small business a burst pipe or several weather could destroy your office equipment onwards a fire could wipe out your inventory business record and your building fortunately commercial property incidents helps pay for these types of incidents and more it is a core coverage type that you will find at the best small business insurance companies commercial property incidents pays to replace or repair your business property if it is lost stolen or damaged by problems covered by your policy such as a fire this coverage type is also called business
Property insurance commercial property incidence is often bundled together with general liability insurance and business Interruption influence as part of a business owner’s policy or pop commercial property incidents typically covers your business building or office equipment tools inventory supplies computers Business Furniture valuable papers and business records it also covers outdoor pictures such as fences and signs the property of others is covered by commercial property incidents as well look at whether the policy is a name parents or open parallels policy first a name panel’s policy will cover costs only from problems specifically listed in the policy which typically include fire theft vandalism and wind image second an Open Paris policy will give you broader protection it will cover any problem except those listed as exclusion for example float damage because of its better protection it will cost more than a named Paris property insurance policy the types of problems covered by commercial property insulins typically include fire lightning wind hail Taft and vandalism however it is important to know the instance where business property insurance won’t help and where you may need extra coverage and here’s when commercial
Property incidents will not help you number one you get in a car accident when driving the company car on a business value free the scenario would be covered by Commercial Auto Insurance number two cyber weather led to floating in your office building floor damage is not covered under commercial property incidents you will have to buy a separate float insurance policy to protect your office space from the cost of fluid image number three you accidentally damage a client’s wall while visiting them on business this type of property damage would be covered under general liability insurance commercial property incidence is not required by law but it is considered an essential coverage type for most small business owners without it you would have to pay out of pocket to repair or replace your business property if it were to image be a problem such as vandalism or several wind in a worst case scenario like a massive fire this could put you out of business without insulin as a financial backup the types of small business owners who purchase commercial property insurance typically number one on rent or lease an office store or building number two all brand or List tools and equipment number three have inventory or products number four depends on business assets like computers and office equipment the number five have business records and documents commercial property insurance has a median cost of 63 dollars per month or 756 dollar a year according to Instagram you don’t need to be a property owner to get commercial property insurance for your business you can get coverage if you run your office space and or your office equipment the cost of commercial property incentively depends on the value of the business property and assets someone insuring a home office would pay far less in commercial property insurance than a business with its own office building but both have business property that could be protected with a commercial property insurance policy thank you very much for watching don’t forget to give your like comment and subscribe