Everything You Need To Know About Commercial Property Insurance

As one of the major investments in a business, owners should take care of their assets and properties. Businesses in manufacturing, retail, and services must prioritize securing their commercial property and equipment. Protect these assets against disasters, destructions, and accidents with the help of Commercial Property Insurance.

Commercial Property Insurance can cover company properties and equipment used in business operations. May it be lost, destroyed, or damaged, the insurance can protect your asset from fire, theft, storm, vandalism, explosions, and more.

Factors Considered for Commercial Property Insurance Cost
The policy may cover buildings, premises, signages, documents, furniture, and equipment. But aside from that, these factors are considered in your commercial property insurance cost:

1. Fire Protection 
   Having fire safety gadgets on location, a fire station nearby, or a fire hydrant on your property can decrease the rates for your policy. A building in a city with access to fire protection can be lower than in rural areas. Buildings that are likely to cause and easily damage in a fire may require higher rates.
   
   
2. The Building or Property Age and Size
   Damages to the property or its utilities may add more cost to the insurance rate. Also, a larger space for office or production can be more costly.
   
   
3. Geographic Location
   The chances of experiencing disasters like storms or tornadoes can likely be subject to higher rates because of their risk, aside from land value.
   
   
4. Type and Age of Equipment
   Large, heavy equipment or frequent usage of hard-to-find parts can cost more.

Things Not Covered by Commercial Property Insurance
Your insurance company only covers some expenses. These may require you to add a policy or take money out of your business finances like:

• Damage to client property when paying a visit 
• A car accident while driving a company car
• Damages caused by flood 

Conclusion 
There are many options and various commercial property insurance policies to choose from. If you're a business with physical locations, you should prioritize having protection in case of accidents or disasters. Secure business operations, sales, and finances to scale and grow more. 

At Kapasu Insurance Services Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (760) 995-3853. Get your free quote today by CLICKING HERE. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!