Commercial property insurance is used to cover any type of commercial property. This can include, but is not limited to, buildings, contents of buildings, and loss of income. Property insurance helps the veteran business owner recover loss of assets when damaged by a covered peril. Some covered events can include fire, wind, theft, vandalism, and water damage excluding flood.
What does commercial property insurance cover?
This is the physical location of your business.
Business personal property.
This is the contents of your building that you are renting or own.
Many commercial policies will include loss of business income. This will indemnify the policy holder in case of business interruption caused by a covered peril. For example, if a fire destroys your workplace, and you are unable to work, business income will cover you after a certain waiting period outlined in your policy.
Commercial property insurance can carry a high cost depending on location, amount needed, and the overall amount of revenue generated by the veteran owned small business. It is important to contact an insurance specialist to discuss options. Commercial property insurance can be carried by itself, or as part of a business owner’s package or a commercial package policy.