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Commercial Property Insurance
Commercial Property Insurance is part of a business owner's policy that adequately addresses the property insurance for a small business.
Small business property insurance provides protection for loss to your real property, tenant's improvements and betterments, furniture, inventory, equipment, computer equipment, property of others at your premises, your property at the premises of others, your property in transit, etc. against loss caused by covered perils such as fire, windstorm, theft, vandalism, etc. The amount of small business property insurance coverage should be set to equal the replacement cost value of all of the above property.
You need to verify that your Property policy has been customized to protect your valuable computer equipment, software, media, and data against perils such as artificially generated electrical power charges, magnetic injury, and mechanical breakdown. Please note that the basic Property policy does not protect against these perils unless it has been specifically endorsed.
Property insurance for small business coverage should also be provided for business income and extra expense in the event that your premises are damaged by a covered loss and you lose income or incur extra expenses to get your business started back up again.
Even if you are working out of your home, you still need a Property policy to protect property that is titled to your business against loss. The reason is that most Homeowner's policies only provide up to $2,500 of coverage for your business personal property and they don't provide adequate coverage for many of perils that can impact computer equipment.
Please note that almost all property policies exclude losses caused by flood, earthquake, artificially generated electrical power surges, and employee dishonesty.
Property insurance is very inexpensive when packaged together with General Liability under a Business Owners policy. The cost for both policies combined is often as low as $500.
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THE POLICY LANGUAGE REFERENCED IN THE COVERAGE DESCRIPTIONS AND THE OPINIONS IN THE COMMENTARY IS MERELY A SUMMARY FOR ILLUSTRATIVE PURPOSES ONLY AND IN NO WAY IS A STATEMENT OF COVERAGE AS ONLY THE ACTUAL POLICY ITSELF CONTAINS ALL OF THE COVERAGES, EXCLUSIONS, DEFINITIONS, AND CONDITIONS. A SPECIMEN POLICY FORM WILL BE PROVIDED FOR YOUR REVIEW UPON REQUEST.
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Insurancefortechs.com, a division of
Sadler & Company, Inc.
3014 Devine St.
P.O. Box 5866
Columbia, SC 29250
1-800-622-7370 Toll Free
1-803-254-6311 Local
1-803-256-4017 Fax
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