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How Can Business Property Insurance Help You

Business Property Insurance Saves Businesses

When it comes to being successful in business, there are a number of variables that help. One of these is your place of business. When you own a commercial property, there are a lot of things that can happen that can end up being costly. At General Insurance, we are dedicated to protecting you from these unexpected and expensive situations.

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The risks that business property insurance covers include:

  • Covered Events: There are a number of events that are covered when it comes to property business insurance. From workplace accidents that cause damage to your business personal property to other events. Busines property insurance covers a number of events, so make sure to ask us about what we cover when it calls.
  • Covered Business Items: When items that your business owns are damaged and are in need of replacement or repair, Business property insurance can help. This can include things like inventory, tools, and quality electronics.
  • General Company Expenses: Some general expenses can end up being costly when incidents occur. If a small electrical fire, water pipes that burst, or other event occurs that may make your business lose profits. These losses of profits can be replaced up to limits of your policy. In times of need, this can provide you with the money for operating expenses, payroll, and other things that are needed to keep your business going.
  • When you think about your business property, it often included a good number of things you have worked hard to invest in. Whether it is fencing, furniture, signs, or inventory, our General Insurance Business Property coverage can help you protect what you have worked so hard to build.
  • There are other types of coverage that can help your business out as well. These include things such as:
  • Liability Coverage: This covers you when it comes to a number of liability risks. Some examples include customer injury and wrongful termination.
  • Auto Coverage: This covers the vehicles that are for business use. This is important to avoid hefty fines and penalties for car insurance violations.
  • Loss Control Coverage: This coverage helps to increase safety and efficiency on the job.
  • Crime Coverage: This covers you many instances of theft.
  • Umbrella Coverage: Additional supporting liability coverage.
  • Other Information About Business Property Coverage

Getting the best business property insurance quote is easy, and it starts right here. In addition to answering any questions you need to have answered and having incredible customer services that focus on your needs, we have the most affordable insurance policies that can protect you and your business. It can help to take an inventory of your business, make sure to include things like.

  • Business equipment
  • Inventory
  • Your building(s) and surrounding property
  • Important documents

How Losses are Determined:

Replacement Cost (RC): This type of coverage does not deduct any amount for depreciation of whatever needs to be repaired or replaced. It pays for items of comparable quality and materials that are to be used on the same premises.

Actual Cash Value (AVC): This type of coverage deducts any amount for depreciation of whatever needs to be repaired or replaced. It pays for items of comparable quality and materials, minus the depreciation of those items. This usually has lower premiums than Replacement Cost coverage.

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