Think of this as homeowner property insurance for your business. A Commercial Property Insurance policy helps protect your business property and is appropriate for many small and medium sized businesses.
This type of business policy conveniently includes many types of coverage like liability, building, business property and loss of income.
There are several different types of Commercial Property policy coverages for businesses. Let’s discuss a few of the more common coverages.
Business property insurance can help protect the property your business owns and leases, including things like medical equipment, inventory, furniture and fixtures. There is also coverage for things you may not think of including protection for your accounts receivable records and or computers and media. Please be aware that most commercial property policies have very limited coverage for property taken off the specified location. So, if you have equipment that is frequently taken to various offsite locations, it is important that you have an inland marine policy (or an equipment or installation floater). Speak with your CoSaint agent to determine the appropriate coverage needed for your situation.
This coverage reimburses a business owner for lost profits (and potentially fixed expenses during the time) during the period of time a business is closed. This coverage applies during the period of time that the property being repaired from a loss (i.e. an event such as a fire, inclement weather, etc…). Business income insurance may also cover financial losses that occur if civil authorities limit customer access to your neighborhood or business after a disaster. Speak with your CoSaint agent to determine the appropriate coverage needed for your situation.
This coverage is separate property coverage specifically designed to protect your computer related equipment. 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.
CoSaint offers Commercial Property insurance in South Carolina, North Carolina, Ohio and Kentucky. When it comes to Commercial Property insurance, CoSaint will work with you to assure you have the appropriate amount coverage at the right price. As an Independent Insurance Agency, we will get quotes from leading insurance companies to help you select the most effective and affordable coverage possible. We will then walk you through your options and help you identify additional savings. You can sleep easy knowing your property is protected and CoSaint is with you every step of the way.