Commercial Property Insurance
Starting a business involves funding and risks, and when something unexpected goes wrong, it can be easy to lose everything. At Fusco & Orsini, we’ll help you customize a commercial property insurance plan that will fit both your needs and your budget, so that when things do go wrong, your business won’t have to go under.
What is Commercial Property Insurance?
In certain circumstances, when property owned by your company is damaged, destroyed or lost, commercial property insurance is intended to cover repair or replacement costs so that a business can continue without facing financial ruin.
Property that is covered in a commercial property insurance plan can include any property owned by the business, such as buildings that the business owns or leases, medical equipment, inventory, furniture, and in some cases, computers, media and company records.
Additional options may be added to your policy to replace things like lost income if your business cannot operate due to damage.
Most policies cover company property damage and loss due to things like fire, smoke, wind and hail, vandalism and theft. However, you may have the options of choosing between the following two types of plans:
All Risk Policy
This type of policy covers a range of incidents that can cause damage or loss of company property. Those instances that are excluded from coverage are listed in the policy. An all-risk policy will cover most incidents that the average small business will face.
Peril-Specific Policy
This type of insurance plan will cover damage or loss of company property only in the instances that are listed in the policy. Your customized plan can offer a variety of situations, like flooding, fire, crime, and business interruption service. Peril-specific policies are a great fit when there is a high risk of a specific peril in the area where the business is located.
In addition to either type of policy, you may need to include additional coverages in order to protect your business. Your insurance broker can help you create a plan that is customized to fit your business needs.
How Can I Get Commercial Property Insurance?
At Fusco & Orsini, we can help you build a cost effective commercial property insurance package. Every business is unique, and every business needs property protection. Request a free quote.
