Commercial property insurance coverage protects your company’s owned and rented physical assets from loss or damage due to perils such as fire, theft, or a storm. For example:
- A fire could destroy the building where your business is located.
- A theft could result in the loss of valuable business equipment.
- A storm could cause damage to equipment you own within your rented facility.
Read on for a brick-by-brick description of commercial property insurance coverage and how it can help your business financially in case an accident occurs.
What does commercial property insurance cover?
Commercial property insurance, sometimes also called commercial building insurance, protects your building (if you own it) and all of the business contents inside it (even if you lease your space). We can break it into two different types of coverage:
- Business building insurance covers your building for claims involving accidental damage, vandalism, and loss. For example, if you’re a restaurant owner and a fire destroys your building, commercial property insurance can help cover the cost of rebuilding. Or if you own your office building and vandals destroy the windows, commercial property insurance will help cover the cost of repairs.
- Business contents insurance covers the property inside your building or within 100 feet of your premises in the case of perils such as fire, natural disaster, and theft. If, for example, you lease storage space for your landscaping business and the building is destroyed, insurance may cover you for the loss of the mowers and other equipment that are important to your business. Or, maybe you own a retail store and an fire destroys your cash registers and specialty shelving. Commercial property insurance can help cover the cost of replacing these items.
- Business interruption insurance is another important aspect of commercial property insurance coverage. If a covered claim forces you to close your business temporarily, business interruption insurance will cover your lost income and continued expenses until you resume operations.
How do you get commercial property insurance coverage?
At Thimble, commercial property insurance is available with a Business Owners Policy (BOP). A BOP is attractive to small and medium-sized businesses. It includes general liability insurance, which covers third-party claims involving bodily injury, property damage, and advertising injury to others. It also includes commercial property insurance for first-party claims (i.e., claims to your stuff).
If you suffer an accident that results in a customer injury, property damage, or both, a BOP has you covered. And if you get sued, your policy will also provide your legal defense, which is pretty important these days given the litigious world we’re living in.
A BOP is a convenient and affordable solution because, well, that’s what we offer here at Thimble — quick-thinking insurance for fast-moving businesses like yours.
Commercial property coverage that won’t blow the house down
Commercial property insurance can protect the business property you depend upon every day. And when you purchase a BOP through Thimble, you’ll receive commercial property insurance as well as general liability insurance — two of the most critical coverages for small businesses like yours.
At Thimble, we put you in control. Click “Get a Quote” and buy a policy by the month or year in just a few minutes. We move fast, so you can too. Let’s get started!