Commercial property insurance helps the customer recover most of their items when a disaster occurs. These disasters may be fire, windstorms, theft, or even vandalism. Many commercial insurance policies also includes Business Interruption Insurance. This policy will cover up to 12 months of lost income when you have to put your business on hold. So lets say for example your business caught on fire well then Business Interruption insurance can pay to keep your business running.
What does Commercial property cover?
Buildings- the physical location is covered. If you own a space then they can select a policy to cover the business.
Personal business property- This covers protection of furniture, inventory, supplies, and the equipment that is used for your business.
Other coverage’s are available for you
Open perils coverage- these policies provide coverage for any incident occurring unless it is something that is exempt from the policy. Typically things that are covered are fire, wind, smoke, theft and vandalism.
Name perils coverage- This policy cover the incidents that are listed in the policy. You may want to purchase this type of insurance when you are in a risky area such as a place known for having a flood or earthquake. This policy is usually less expensive considering the fact it only covers specific events.