Overview
Commercial property insurance covers physical assets your business owns or is responsible for: the building (if you own it), furniture, computers, tools, inventory and tenant improvements.
It can also include business income coverage, which replaces lost profits and pays continuing expenses like rent and payroll while you're shut down after a covered loss.
What It Covers
Building
The structure you own, or improvements you've made to a leased space.
Business Personal Property
Equipment, furniture, inventory and supplies.
Business Income
Lost income and ongoing expenses during a covered shutdown.
Equipment Breakdown
Sudden mechanical or electrical failure of key equipment.
Who Needs It
- Businesses that own their building
- Tenants with equipment and improvements
- Truck terminals, shops and yards
- Retail and warehouse operations
What Affects Your Price
- Building construction and age
- Location, including wind and flood zones
- Values insured
- Protection (sprinklers, alarms)
- Deductibles
Roy's tip: Standard property policies usually exclude flood, and in coastal areas, including much of Florida, wind or named-storm deductibles can be significant. We'll show you exactly what applies.
Frequently Asked Questions
Replacement cost or actual cash value?
Replacement cost pays to replace property with new, while actual cash value subtracts depreciation. Replacement cost costs more but pays much better after a loss.
Does property cover my tools at a job site?
Often only partially. An inland marine or contractor's equipment policy is usually the better fit for tools and equipment that move.