What is Needed to Get a Policy?
The premium for a commercial property insurance policy differs from business to business. It is based off your business assets’ values, including your building. Other factors that determine your premium are based on risk, including:
- Location – Are you near water of any sort? Does it tend to storm a lot? Do you experience frequent natural disasters?
- Construction – Is your building constructed with fireproof materials? Does it have new or upgraded electrical wiring, plumbing and/or HVAC?
- Occupancy – What industry is your business considered to be in?
- Fire and theft protection – Does your business have a fire alarm and/or sprinkler system? Security systems? What is the distance between your business and the closest fire hydrant and fire station?
What Does Commercial Property Insurance Cover?
This policy is very important as it covers your contents inside and outside your business Covered items include:
- Computers
- Furniture
- Equipment
- Business Income
- Exterior Signs
- Fence and Landscaping
- Important/Confidential Documents
- Inventory
- Storage Sheds
- Others’ property
There can be additional coverages applied to your commercial policy which can be extremely beneficial. Reach out to Richland-Knowles Agency to learn more about a Commercial Property policy that fits your business’ needs!
