commercial insuranceCommercial or Business Property Insurance is designed to protect your business’ physical assets such as buildings, equipment, inventory, and more against such causes of loss as fire, wind, smoke, theft, vandalism, and more.   More often than not, this is one of the most common areas of business insurance that business owners seem to neglect.  For most business, their commercial property insurance needs to be updated at least annually.  Over time, your property insurance needs change.   You may make changes to your building, buy new equipment, or increase your inventory.
The three basic components of commercial property insurance are:

  • Building coverage – covers your building and attached structures.
  • Business Personal Property Coverage – covers your contents inside your building.  Be careful – if you take a lot of your equipment off site, you should let your agent know, because there are limitations to coverage off premises under Business Personal Property Coverage.
  • Business Income – This coverage provides protection against lost income in the event that you cannot operate your business due to a covered loss.

San Luis Obispo Commercial Property Quote

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Ways to save money on commercial property insurance:

  • Install central station fire and burglar alarms.
  • Opt for a higher deductible.
  • Update your building – if you are in an old building, you can receive renovation credits.
  • Have a formal written safety and security plan in place.