If you own or manage a commercial property, you know how high the stakes are when something unexpected happens. Commercial property insurance is a must-have to protect any sort of business that suffers financial burden because of an event like a fire, theft, or natural disaster. It’s often part of a larger business insurance portfolio known as a business owner’s policy (BOP). At Coastal Insurance Group, Inc., our qualified agents offer commercial property insurance for clients with more than $5 million to insure. We have worked with all types of business owners and managers in Key Biscayne, Pinecrest, Doral, and nearby Florida. If you would like a complimentary consultation or free quote for commercial property insurance, contact us.
What’s Protected in a Commercial Property Policy?
You will pay a monthly premium for your commercial property policy. In return, the policy will pay out, up to your limits, to reimburse you for property damage caused by certain events. The level of commercial property insurance you require depends on what assets and structures you want protected financially. You can protect your business regardless of if you own or lease physical structures, equipment, or other property. A commercial policy may cover:
- Buildings such as office space, storefronts, warehouses, and more
- Equipment and tools
At Coast Insurance Group, Inc., we offer coverage for commercial properties with more than $5 million in revenue. It’s important to carefully identify all the different items you would want repaired or replaced should an unexpected event damage or destroy your commercial property. For extra coverage to cover any expenses that exceed those lined out by traditional commercial property policies, we offer umbrella coverage that extends the policy’s protection.
What Types of Events are Covered?
As with homeowners insurance, certain events are excluded from most commercial property insurance plans, including floods caused by weather-related events. One of our insurance agents can talk to you further about getting coverage for this type of natural disaster. The following are the types of incidents that commercial property policies do cover, often known as “named perils”:
- Weather damage by hail or wind
- Flooding caused by an internal problem, such as a burst pipe
It’s important to examine your commercial property policy closely to understand which of these types of events are covered.
While commercial property insurance covers damage to your property, business liability insurance is another key element of a BOP. Business liability protects you financially if your business is found liable for injury to a person or damage to a person’s property. It may also extend to cover the costs associated with any lawsuits brought against your business by clients and other people.
Protect Your Livelihood
When you’re ready to learn more about commercial property insurance and get a free quote, contact Coastal Insurance Group, Inc. Our certified insurance agents will help you determine what level of coverage is right for you, without excess protection – and cost – you don’t need. We serve clients in Key Biscayne, Pinecrest, and Doral, Florida.