Not only are your company assets expensive, but they also keep your company operating. With adequate insurance coverage, your business won’t take as much of a financial hit for essential equipment after an unplanned incident like a fire or a break-in.
A Commercial General Liability (CGL) coverage shields your company from financial harm in the event that you are held accountable for property damage, bodily injury, or advertising injury brought on by your products, activities, or personnel. It may also cover you if you are held liable for damages to your landlord’s property. Additionally, it can defend you from claims of advertising damage.
General Commercial Property protects the structure of your business and your belongings. Regardless of whether you own or rent the equipment, commercial property insurance covers it. Your company’s physical assets are covered by commercial property insurance against theft, vandalism, storms, fire, explosions, burst pipes, and fire. Unless certain dangers are specifically included in the policy, commercial property insurance normally does not cover earthquakes and floods.
Factors to consider for your Commercial Property Insurance Coverage:
Occupancy – The more people or hazards the more of an effect that it will have on your premium.- Location – If your building is outside of the city or in an area that has limited access to fire protection services
- Construction – Fire-resistant materials can help retain a good fire rating and could reduce your premium.
- Fire & Theft Protection – Does the business have a sprinkler system, fire alarm, or security system?
Occupancy – The more people or hazards the more of an effect that it will have on your premium.There are many factors involved when choosing insurance for your business. Call your agent at (AGENCY) (PHONE) to discuss your options.
Source: https://www.investopedia.com/terms/c/commercial-property-insurance.asp