Commercial Property Insurance
Bogalusa, Louisiana Commercial Property Insurance
Fire, flood, theft, accidents, vandalism — your physical business operation faces a number of prospective threats. Commercial property insurance and a general business liability policy should be two of the first things you research and acquire after launching your business.
There are two primary categories of commercial property insurance policies to consider:
Named Perils: Covers only losses resulting from specific events and risks named in the policy.
All Risk: Covers all events and risks accept those specifically named in the policy; typically higher cost premiums.
What does Commercial Property Insurance Cover?
The typical commercial property insurance policy covers the damage or loss of business assets, including:
- Computers, furniture, fixtures
- Equipment used in the production of your product
- Buildings and signs on your property
- Fence and landscaping on your property
- Your employees’ property that is on the premises
Additional coverage can be added depending on the specific nature of your business and the risks you face, for example, coverage for off-premises property, business interruption, undamaged stock protection, data or records protection and computer virus protection.
Small Business Owners: If you operate a small business with very little “overhead,” a standard Business Owners Policy (BOP), which combines Commercial Business Liability with Commercial Property, might be adequate, but you will want to speak with an experienced insurance advisor to make sure you’re not under-insured.
There is also a wealth of helpful information online for small business owners considering commercial property insurance for their small business.
Do you still need business property insurance coverage if you lease?
Yes, in fact, you’ll probably be required to show proof of coverage in order to lease. You are responsible for covering the contents of your business operations on the property, while the owner of the property is responsible for the building structure itself.
You will also want to make sure you have a solid general commercial liability policy in place to cover you in your rented space should damage to that space occur as a result of your business operations, or one of your employees or customers become injured on that property.
Contact Us for a Commercial Property Insurance Quote for your Louisiana Business
Our professional independent insurance advisors can talk you through different commercial property insurance policies from multiple insurance companies and help you settle on a plan that best meets your needs, including whether a Business Owner’s Policy (BOP) would be adequate.