Commercial property insurance is a comprehensive policy that covers all the unexpected cost of the property such as
Right from the business interruption losses to property damage, commercial property insurance covers a wide range of risk of the business. Let us see what all things that insurance covers for the investors.
Building: The buildings can be insured against natural calamities like a storm, flood, avalanche, lightning etc. There are several insurance policies that suit your needs as per your requirement. For example, if you rent out building, your business tenant is required to take tenant’s contents insurance.
Stock and Equipment: inside the commercial property insurance a range of articles including the fixtures, furniture’s, electronic equipment and mechanical equipment, cash registers, trade equipment, weighing scale, whole inventory etc. are covered. Thus all the content n the building are covered by the insurance. For manufacturing business, it is important to store inventory and protect it against damage and theft. These stock goods can also be covered under commercial property insurance and hence can be protected and covered. The improvement made by tenants: during the time of tenancy if the tenants think the building is less suitable to the business and can make suitable improvements by changing the looks or any such aspect and thus modifying the building accordingly. Such improvement cost made for the building is also covered by the insurance coverage.
Business Interruption: interruption to the business might occur due to different factors like natural calamities, man-made causes like vandalization. Such risks are also covered under commercial property insurance. These types of business interruption lead to non-payment of rent, wages and also dividends to the shareholders of the firm. Such liabilities can be covered if you take up business interruption policy.
Worker’s Compensation: the business you do is most likely get affected by numerous factors like man-made as well as natural. In any case, if your employees protract injury or illness, the cost of hospitalization and other medical expenses can also be covered under this type of insurance.
Thus commercial property insurance covers a variety of risk factor you cannot ignore.
- The cost incurred from damages occurred to the property and
- The cost incurred from the damages caused to others by the property (liability claims).
Right from the business interruption losses to property damage, commercial property insurance covers a wide range of risk of the business. Let us see what all things that insurance covers for the investors.
Building: The buildings can be insured against natural calamities like a storm, flood, avalanche, lightning etc. There are several insurance policies that suit your needs as per your requirement. For example, if you rent out building, your business tenant is required to take tenant’s contents insurance.
Stock and Equipment: inside the commercial property insurance a range of articles including the fixtures, furniture’s, electronic equipment and mechanical equipment, cash registers, trade equipment, weighing scale, whole inventory etc. are covered. Thus all the content n the building are covered by the insurance. For manufacturing business, it is important to store inventory and protect it against damage and theft. These stock goods can also be covered under commercial property insurance and hence can be protected and covered. The improvement made by tenants: during the time of tenancy if the tenants think the building is less suitable to the business and can make suitable improvements by changing the looks or any such aspect and thus modifying the building accordingly. Such improvement cost made for the building is also covered by the insurance coverage.
Business Interruption: interruption to the business might occur due to different factors like natural calamities, man-made causes like vandalization. Such risks are also covered under commercial property insurance. These types of business interruption lead to non-payment of rent, wages and also dividends to the shareholders of the firm. Such liabilities can be covered if you take up business interruption policy.
Worker’s Compensation: the business you do is most likely get affected by numerous factors like man-made as well as natural. In any case, if your employees protract injury or illness, the cost of hospitalization and other medical expenses can also be covered under this type of insurance.
Thus commercial property insurance covers a variety of risk factor you cannot ignore.
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