Commercial Property Insurance


It’s impossible to predict every disaster. Businesses in every industry need commercial property insurance to safeguard their financial future. Commercial property insurance provides peace of mind, protecting your physical assets from whatever comes their way. Whether you’re operating from your own storefront or from a home office, there’s a policy to suit your needs.

What does commercial property insurance cover?

Imagine you operate a restaurant that is destroyed in a fire. Your insurance policy would cover the building, computers, furniture, inventory, customer possessions, documents, landscaping and all cooking appliances. Although that is not an exhaustive list, it serves to illustrate the extremely comprehensive nature of commercial property insurance. Commercial property insurance covers all the physical assets of your business. This can encompass everything from the building you operate from to outdoor signage.

Commercial property insurance provides protection from the worst-case scenario: a total loss.

It’s important to be realistic about the replacement value of your physical assets. Typically, small businesses are the most likely to forgo insurance. Unfortunately, they are also the most likely to suffer a complete loss without the ability to pay for repairs. In this case, you may find yourself liable for both your property and property a customer has left in your control or custody. If you cannot afford to rebuild your business with money out of pocket, a low-cost policy could provide peace of mind.

 

Why do I need commercial property insurance broker?

Selecting a property insurance policy as an individual can be extremely time consuming and confusing. Obtaining accurate quotes requires speaking with providers directly, as well as providing dozens of personal, identifying details, only to receive a confusing term sheets and frequent follow-ups. Furthermore, if you lease office space, your landlord may require your policy to meet certain criteria, which will further complicate the process. Working with a commercial property insurance broker will help you ensure that you’ve fulfilled all your legal obligations and selected the best coverage for your unique needs and risks

At Frankel & Associates, we assess possible policies based on a variety of factors such as premium costs, individual liabilities, business size and the providers previous claims response history. Your premium will be determined by the characteristics of your property. For example, potential providers may look at the location of your offices in comparison with the nearest fire station. Your broker will keep track of all the moving pieces involved in building a policy. At the same time, you’ll save time and money by considering only plans that meet your requirements!

When you work with a broker, we evaluate your needs first. Our focus is obtaining the best coverage for the right price, not upselling an expensive package. With our exceptional customer service, finding a commercial property insurance policy has never been easier!