One of the most common types of business insurance is commercial property insurance, which provides coverage for buildings, inventory, equipment, tools, and more. Commercial property insurance protects against losses from specific events such as fire, break-ins, vandalism, wind, and other natural or man-made disasters, ensuring businesses can afford necessary repairs or replacements.

A basic commercial property insurance policy may be all you need, although the types of coverage can vary between different insurance companies. Commercial property insurance coverage is crucial for businesses to recover from losses, offering options like cash or replacement value for stolen or destroyed items. As an independent insurance agent, Pepper, Johnstone & Co. can help you determine the type of insurance policy and range of coverage that is best for your business.

For a full list of coverage available or to learn more about this business property insurance, contact us today.

What Is Commercial Property Insurance?

Commercial Property Insurance is a business insurance policy designed to help commercial property insurance protect your company and its physical assets from various risks, including fire, storms, theft, and vandalism. Generally, most policies exclude flood as a covered cause of loss, indicating that a separate policy is necessary to safeguard against floods and the resulting damage.

About Commercial Property Insurance

• Insuring Buildings

  Do you own a commercial building? Do you have enough commercial property insurance to cover replacement costs? Although cost estimators are available, we recommend that you secure an appraisal from a third party to accurately determine the current replacement cost of your building. Call us today, and we'll help determine if you have enough commercial property insurance for your business.

• Flood Insurance

  Most commercial property policies exclude flood as a covered cause of loss. A separate policy must be purchased to protect you from resulting damage. Check your current property insurance policy to be sure you are covered. If you're unsure, ask us to review your insurance policy, and we'll help you find the best solution.

• Business Personal Property Coverage

  Business personal property insurance covers property at a specified location such as furniture, fixtures, equipment and inventory. Be aware that most commercial property policies have limited coverage for property taken off the specified location. If you have frequently taken off-site equipment to various locations, you must have an inland marine policy (equipment or installation floater).

• Business Income (Business Interruption Coverage)

  This coverage reimburses a business owner for lost profits and fixed expenses while the business is closed. It applies while the premises are being restored because of damage from an event such as a fire. Business income insurance may also cover financial losses if civil authorities limit customer access to your neighborhood or business after a disaster. We strongly recommend that all businesses acquire this coverage.

• Electronic Data Processing (EDP) Insurance

  This is separate property coverage specifically designed to protect your computer-related equipment. Most commercial property policies have limited coverage for computer networks. EDP broadens the causes of loss to include things like power surges and, in some cases, virus attacks.

How Much Does Commercial Property Insurance Cost?

The price of commercial property insurance can depend on a variety of variables. You want to get a policy that covers the full value of all your assets, including your business. This includes computers, the building, furniture, inventory, and important documents. The total cost of your insurance policy will depend heavily on the value of all of these things. Other factors will play a part as well. Location, occupancy and fire protection are external factors that will influence the cost. Buildings that are more prone to damage will pay a bit more than generally safe buildings built with safety in mind. Understanding the difference between 'actual cash value' and replacement cost is crucial; the former considers the current worth of an item, factoring in depreciation, and usually costs less but pays out less in the event of a loss. At the same time, the latter covers the cost of replacing lost items with new equivalents.

Pepper, Johnstone & Co. understands our clients' Athens business insurance needs. The right coverage for you is unique – call us today to learn how to protect your business and your future with the right insurance.