Commercial property.
Think beyond the building.

What does the conversation cover?

Commercial property insurance addresses specified business property against covered causes of loss. The insured property, valuation basis, limits, deductibles and exclusions determine how a policy may respond.

Businesses that rent premises may still need to consider their contents, equipment, stock and improvements. Building ownership is only part of the picture.

Questions worth asking

• What property belongs to the business, and where is it located?
• Are values based on replacement cost or another valuation method?
• Do stock levels change significantly during the year?
• Are property in transit, off-site equipment or tenant improvements included?
• Is business income or extra expense coverage needed, and what triggers it?

Prepare a practical inventory

Make a high-level list of premises, essential equipment, inventory and any unusual or expensive items. Record your responsibilities under the lease and note renovations, vacancies or changes in occupancy.

Related topics

Business owner’s policy · General liability · Property businesses