Commercial Property
What is Commercial Property insurance?
Commercial property insurance is, simply put, insurance against disasters that cause damage to your business property. These disasters and incidents may include hurricanes, fires, theft, storms, burst pipeline, and explosions. Most carriers do not include floods and earthquakes in their standard commercial property insurance policies but these can be added into a policy if you want to. Additionally, you can get further coverage for special property to fit your specific business related needs.
Who needs a Commercial Property insurance policy?
Since virtually all businesses are run on property recognized as suitable premises for the commercial activity involved, whether you own your offices or have your building under lease, you should get your business a comprehensive commercial property insurance policy.

While you may be situated in a city or area where natural disasters are rare, your business property - which includes your offices, buildings, equipment, furniture, inventory, and much more - is vulnerable to damage caused by other types of accidents you have no control over.

In simplest of words, every business could immensely benefit from commercial property insurance if their policy covers all significant risks to property a business in their line of work faces.
Key benefits of Commercial Property insurance
  • Payment for costs of repairs or reconstruction after a natural disaster included in your insurance policy destroys your property
  • Payment for costs in recovering and repairing equipment after a fire
  • Payment for costs in reproducing important documents lost in an accident covered in your commercial property insurancepolicy
  • And many others
Commercial Property insurance coverage
Many insurance carriers around the country these days offer a wide range of commercial property insurance products you could choose from. However, most of these products are still quite generic and try to include a broad spectrum of generally applicable causes that could damage your commercial property.

What every business should aim for while getting any kind of insurance is whether or not the policy they are considering includes all significant types of risks their business is vulnerable to. If a commercial property insurance policy does not cover the kind of property damage risks the nature of your business comes with, that policy may not be useful to you when you need it.

Therefore, you should get assistance from an insurance brokerage business that can help you get commercial property insurance coverage that fits your industry needs. Ficke Insurance is proud to be helping businesses of all sizes and maturity - in all industries - get adequate commercial property insurance that mitigates their general - and industry-specific - risks.
What does Commercial Property insurance cover?
Commercial property insurance covers many natural disasters and perils that could destroy your commercial property. Depending on the scope of your insurance policy terms, the kinds of causes of property damage as well as what types of commercial properties are covered in the policy may significantly vary. Therefore, you should be very careful about the terms of your policy when purchasing it.

Generally speaking, commercial property insurance coverage is offered by most carriers for key business assets, such as buildings, equipment, accounts receivable, and income loss due to damages caused by areas covered in your policy.
Property included in Commercial Property insurance coverage
Following is a short and comprehensive list of types of property generally included in routine commercial property insurance policies as offered by major insurance carriers in the country:
  • Owned or leased buildings
  • Owned or leased equipment, such as computers
  • Owned or borrowed furniture
  • Exterior business signs
  • Surrounding landscaping and fencing
  • Business inventory
  • Accounts receivable
  • Lost income
While the above listed items are commonly included in commercial property coverage, you can add further specific properties that are important for insurance in your field.
What does Commercial Property insurance cost?
The cost of your commercial property insurance depends significantly on a number of factors. While some of these factors are easily determined, such as the total value of your business assets, many other factors that your insurance carrier will consider before putting a price on your policy are more complex to estimate. These include:
  • the location of your business property and whether or not the place is vulnerable to natural disasters;
  • the quality of construction in your building and structures within the property, such as use of fire-resistant materials;
  • the nature of your business, which may significantly increase or decrease the extent of risk involved; and
  • in-place measure for theft and fire prevention.
Since commercial property insurance is a complex matter and knowing everything that may influence your coverage may be difficult for you, why not get help from an insurance brokering leader that can get you a policy that provides you tailored comprehensive coverage for risks to commercial property involved in your business?

Ficke Insurance is one such service provider where our team is ready to learn about all significant property risks your business comes with and mitigate them with thorough coverage in your next commercial property insurance policy.

To get more information about what your insurance policies should look like, contact one of our agents right now.