Commercial Property Insurance

Businesses have physical property that is integral to their daily operations and overall success. Damaged property can have a substantial impact on your business’s productivity and mission. Even minor incidents could have wide-ranging effects on your finances. Fortunately, an adequate commercial property insurance policy can help.

Since 1984, the agents at Overbay Insurance Services have been helping businesses in the Waynesville and Canton areas understand their insurance needs and protect themselves with suitable policies.

What Is Commercial Property Insurance?

As its name may imply, commercial property insurance is a type of coverage that protects you from damages related to property used to operate your business. This may include losses and expenses arising from many common incidents, such as the following:

·        Fire

·        Burglary

·        Theft

·        Severe weather

By making regular premium payments, your business will maintain coverage and have access to crucial financial assistance in the aftermath of a covered cause of loss affecting your commercial property. In general, most policies include protection for damage to the following:

·        Buildings/structures

·        Equipment

·        Tools

·        Inventory

·        Important documents

·        Furniture

·        Signage

·        Fences

·        Landscaping

How Much Does Commercial Property Insurance Cost?

Insurance providers must consider many criteria before being able to provide you with an accurate quote for commercial property coverage. In most cases, the following aspects of your business will be analyzed:

·        Location—For example, hosting your business in areas prone to severe weather or other natural disasters may lead to higher insurance costs.

·        Building details—The construction materials of structures used to operate your business and the conditions and ages of electrical, plumbing and HVAC systems may all impact your premiums.

·        Operations—Providers may consider your industry and specific operations. Certain sectors and tasks may have higher risk levels and therefore increased costs for coverage.

·        Security—Businesses with security infrastructure, such as sprinkler and security systems, may be quoted lower rates.

Get the Right Coverage

Businesses of all kinds must rely on physical property to remain functional and productive. Buildings, electronic devices, machinery and even chairs must all be adequately protected to help your company and its employees stay on course. Without a suitable commercial property insurance policy, your business may need to pay for damages out of pocket.

Contact the agents at Overbay Insurance Services today to assess your business’s commercial property insurance needs. We will work with you to build optimal coverage.