- Commercial property insurance can cover a commercial building that you own and/or your
business personal property and inventory against physical loss or damage.
- If in the case you don't own your building, you would still need contents coverage for your
business personal property. Most business personal property policies,usually provide insurance for business contents i.e., furniture, office equipment, supplies, stock, fixtures, and other supplies stored at your facility & some property off-premises. Property insurance can be bought based on the property's actual cash value (ACV) - (its replacement cost minus depreciation), or replacement cost (RCV) its current replacement cost a coinsurance provision generally applies.
There are separate coverage forms available:
- Business income with or without extra expense
Business interruption coverage can pay for your business' fixed costs, such as rent, payroll and taxes, if your enterprise suffers a property loss that causes it to close or slow down for a period of time while repairs are made.
- Equipment breakdown, accounts receivable, crime, employee dishonesty, valuable papers
and many others. Consult your Broker for more information.
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