Commercial property policies can cover:
- Buildings – The physical location of your client’s business is covered. If your client owns the space, they can select a policy that covers the building in its entirety. If your client rents, they might look for a policy that only covers the contents of the space.
- Personal business property – This coverage provides protection for the furniture, inventory, supplies, and equipment owned by your client’s business. Sometimes the property is covered even when it is somewhere other than your client’s primary place of business. For example, if your client takes a laptop to an offsite meeting and damages it, commercial property Insurance can pay to repair or replace it. Some policies limit coverage during certain events, such as a major workforce reduction, a merger or an acquisition. They typically don’t cover intentional or criminal acts, either.