Commercial property insurance protects the property your clients rely on to conduct business. If your client loses their property to a covered event, Commercial property coverage pays the repair or replacement costs up to the policy’s stated limits.
Commercial property insurance helps your clients recover when certain disasters jeopardize their business assets and real estate. Covered events might include fire, windstorms, theft or vandalism. Your client can use the payout from their Commercial property policy to repair or replace items such as:
Many commercial insurance policies also include business interruption insurance. This policy covers up to 12 months of lost income when certain events force your client to put their business operations on hold. For example, if a fire destroys your client’s workplace, business interruption insurance can pay for the ongoing costs of keeping your client’s business afloat when it can’t generate revenue.
Commercial property policies can cover:
Commercial property insurance is a major expense for any business owner, especially if they have lots of costly equipment. Luckily, there are options available to keep your client’s costs manageable.
The first option is a business owner’s policy, or BOP. Created for low-risk, small businesses, BOPs bundle Commercial Property and General Liability Insurance into one package at a reduced rate.
You can also suggest that your client chooses the appropriate kind of coverage:
Finally, your client can choose to insure their business assets at their replacement value or their actual-cash value. Replacement-value coverage might cost more, but it covers the cost of purchasing brand new replacement items. Actual-cash-value coverage means your client will only receive a payout equivalent to the depreciated value of the item.
Type of Insurance You Are Interested In
© 2018 Insurance Designers, All Rights Reserved
powered by Cat60 Designs www.cat60.com