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The Basics of a Commercial Property Policy

The Basics of a Commercial Property Policy a commercial building

What you should know about commercial property insurance.

Your business has a lot of physical assets: your building and its contents. These pieces of property can be damaged, which is why it is important to protect them. A commercial property insurance policy is designed to cover buildings and personal property owned by your business. While unexpected accidents and events can happen at any time, such as storms, fires, and other major setbacks, with business property insurance in Seattle, WA, you have got support and financial assistance to help you recover quickly.

How commercial property coverage works

Commercial property insurance coverage varies, but they are typically classified by the type of event leading to a loss, and by what things are insured. Basic property insurance usually covers losses caused by fires or explosions, theft, vandalism, and damage from vehicles and riots. You can purchase additional coverage that protects your property against mass-destruction events such as earthquakes and floods.

Commercial property insurance is designed to cover your building and outdoor items on the premises as well as key items inside such as office equipment and inventory.

Take an inventory

Before you decide to take out commercial property insurance, it is wise to take an inventory of your business. This helps you determine what property you want to insure, what its replacement value would be, and if it is worth insuring. The property you might insure could include:

  • The building that houses your business
  • All office equipment (computers, phone systems, furniture, etc.)
  • Accounting records and important company documents
  • Manufacturing or processing equipment
  • Inventory kept in stock
  • Fence and landscaping 

Need more information about a commercial property policy? Contact the experts at Humble & Davenport Insurance today. Our dedicated team serves Renton and the surrounding areas in Washington. We’re ready to insure your business!