Commercial property insurance includes a broad range of coverages for structures, inventory, equipment, tools and more. Losses from fire, break-in, vandalism, wind and other natural or manmade disasters are examples of what is typically covered.
Types of Commercial Property Insurance
- Buildings and structures If you own a commercial building, it is recommended that you carry enough commercial property insurance to cover the replacement cost of your building.
- Flood Insurance Most commercial property policies exclude flood as a covered cause of loss. A separate policy must be purchased to protect you from flood damage.
- Business Personal Property Coverage Business personal property insurance covers property at a specified location such as furniture, fixtures, equipment and inventory. Most commercial property policies have very limited coverage for property that is removed from the specified location. If you have equipment that is frequently taken off-site to various locations, it is important that you have an inland marine policy
- Business Income (Business Interruption Coverage) This coverage reimburses a business owner for lost profits and fixed expenses during the time that a business is closed due to damage from an event such as a fire. Business income insurance may also cover financial losses that occur if civil authorities limit customer access to your neighborhood or business after a disaster.
- Electronic Data Processing (EDP) Insurance This coverage is separate property coverage specifically designed to protect computer equipment and accessories. Most commercial property policies have limited coverage for computer networks. EDP broadens the causes of loss to include things like power surges and in some cases virus attacks.
Mariemont Insurance provides risk assessment tools and services and all lines of business insurance, including group life and health.