Commercial Property Insurance
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Commercial Property Insurance Information
Businesses of all sizes and industries depend on physical property to maintain consistent and productive operations. Even companies that operate primarily online or are home-based still rely on various equipment and devices. Given that dependence, organizations must ensure they can recover from an incident resulting in property-related losses and damages.
What Is Commercial Property Insurance?
As its name suggests, commercial property insurance focuses on protecting the physical property of a business from common risks and exposures. This coverage, also known as business property insurance, can generally be relied on to provide financial assistance in response to the following:
- Fire
- Explosions
- Wind
- Lightning
- Crime (e.g., theft, burglary, vandalism)
What Does Commercial Property Insurance Cover?
A commercial property insurance policy is an invaluable investment for all companies due to the diverse safety net it casts across various properties and possessions. In most cases, this type of insurance includes coverage for the following:
- Buildings/structures
- Computers
- Equipment
- Tools
- Inventory
- Furniture
- Important documents
- Signage
- Landscaping
- Fences
Who Needs Commercial Property Insurance?
While commercial property coverage is not usually mandated by law, businesses that rent their workplace may be required to maintain a policy by their landlords. Companies with a mortgage on their building may also be required by their lender to acquire coverage. Regardless of requirements, any organization that owns, rents or leases any type of physical property necessary to operate their business should strongly consider this type of insurance. Without adequate coverage, companies may lack the means to recover from an incident, jeopardizing their finances and future.
Get the Right Coverage
With nearly 30 years of experience providing optimal coverage solutions, the agents at Automatic Insurance are well-equipped to help businesses in Deerfield Beach, Pompano Beach and throughout South Florida. Contact us today to get started.
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