Commercial Property Insurance

Businesses must take steps to financially protect their assets and property. Accidents, natural disasters and other incidents can all inflict significant damage on various commercial belongings, and without appropriate loss control measures in place, a company could face significant out-of-pocket losses. Fortunately, commercial property insurance can offer versatile and robust coverage for many types of physical property.

What Is Commercial Property Insurance?

As its name suggests, commercial property insurance is a specialized type of property coverage intended for businesses. These policies can offer customizable, multifaceted financial protection, making them a valuable investment for most companies, regardless of size or sector. In many cases, insurable property may include a business’s structures, equipment, electronic devices, furniture and inventory.

Like many types of insurance, commercial property insurance coverage establishes a contractual agreement between policyholders and their insurers. Regular payments, known as premiums, retain businesses with the right to file a claim for financial assistance following covered incidents, such as fires, burglaries and vandalism. Standard commercial property coverage can often be enhanced with various endorsements or additions, such as for hurricanes, floods and earthquakes.

How Much Does Commercial Property Insurance Cost?

When determining commercial property insurance rates, carriers often consider several factors, including the following:

• Location

• Industry
• Square footage of premises
• Value of insured assets
• Number of employees
• Previous claims
• Policy details (e.g., limits, deductibles and endorsements)

Where to Get Commercial Property Insurance

At Jack Lee Fong Insurance Agency, we take pride in helping businesses in San Francisco and throughout the Bay Area acquire and maintain ideal coverage solutions. Contact us today to learn more or to get a tailored commercial property insurance quote.