Commercial Property Insurance
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Protect Your Business Property With Commercial Property Insurance

Commercial property insurance is a type of commercial coverage that can protect your business in the event of a covered loss. Many business owners purchase commercial building coverage as part of their BOP policy.

Depending on the terms of your policy, commercial property insurance may cover natural disaster, theft, accidents and more. Whether you own a freestanding commercial building, lease an office or even work from home, business property insurance can protect your building and your business' physical assets. Here are a few examples of incidents that could be covered by a commercial property policy:

What business property insurance covers

Small business property insurance is one of the most important investments ensuring the future of your business. Here are some of the important aspects of your business that commercial property insurance helps protect:

  • Your building
  • Your outdoor sign
  • Your furniture and equipment
  • Your inventory
  • Your fence and landscaping
  • Others' property

Nationwide understands that your business is unique and constantly changing. We can tailor our commercial building insurance policy to fit your needs.

Learn more about how commercial property insurance works, coverage options and information on how to get a quote with these commercial property insurance resources:

what is commercial property insurance

What you need to know about business property insurance

A complete business property insurance plan is one of the smartest investments you can make in your business. It protects the costly, physical assets of your company such as the building, its contents and any outdoor fixtures such as signs and fencing.

Savvy business owners know that a fire or severe windstorm can shut down a business for an extended period of time, often leading to a permanent closure. But with a comprehensive business properties insurance plan, you’ve got support and financial assistance to help you recover quickly.

Understanding the basics

Commercial property insurance plans vary from policy to policy, but are essentially categorized by the type of event leading to a loss, and by what specifically is insured.

Basic property insurance usually covers losses caused by fires or explosions, theft, damage from vehicles or airplanes or acts of vandalism. Additional coverage can be added for earthquakes and breakage of glass.

The essential items to insure in a business property insurance plan include your building, office equipment, inventory and outdoor items on the premises.

Taking inventory

Before you meet with an agent, it helps to take inventory of your business. You’ll need to determine what property you want to insure, what its replacement value would be and if it’s worth insuring.

The property you might insure could include: 

Determining the loss

Commercial property insurance plans pay for losses based on the replacement cost of the item or its actual cash value.

Typically, the premiums for policies covering property insured on an ACV basis are lower because a lower limit is used due to the deduction for depreciation. This amount might not be enough if you elect to insure the property on a RC basis.

Your insurance agent can work with you to make sure you have your property adequately insured.

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