Commercial Property Insurance
Commercial Property Insurance Quote Forms
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Commercial Property Insurance Information
What Is Commercial Property Insurance?
Commercial property insurance protects the physical assets of your business from damage caused by certain events, such as a fire, storm, burst pipe, theft, and vandalism. Commercial property insurance typically covers:
· Your building
· Your furniture and equipment
· Your inventory
· Your landscaping, including any fencing around your property
· Your outdoor signage
· Damage to others’ property (when it occurs as a result of a covered event)
Most commercial property insurance policies can be tailored to fit a business’s unique needs.
Commercial property insurers generally pay for losses in one of two ways—either based on the replacement cost (RC), which refers to amount needed to repair or replace equipment with comparable materials and quality, with no deduction for depreciation; or based on the actual cash value (ACV) of the equipment, which refers to the cost to replace items with similar equipment, less depreciation.
Other types of commercial insurance you may need include:
· Commercial general liability insurance—Protects a business against claims for bodily injury or property damage arising from the business’s products, operations, and other covered reasons.
· Commercial auto insurance—This coverage protects a company’s owned vehicles used in the course of business.
Why Do You Need Commercial Property Insurance?
Commercial property insurance protects you against financial losses, whether large or small. Your office could sustain water damage from a burst pipe, you could lose everything in a fire, or a storm could damage your landscaping or signage. Without commercial property insurance, you’ll be left to cover these things out of your own pocket.
Things to Consider and Questions to Ask Your Agent
It’s a good idea to have at least a basic inventory of your business in order to get the most accurate insurance quote. Determine what property/equipment you want to insure and whether it is worth insuring based on its replacement value. Some things you may consider insuring include the building that houses your business, important records (such as customer receipts and employee information), office equipment, manufacturing equipment, and on-site inventory.
Also ask your agent:
· If the insurance company or companies being quoted has or have a good reputation for customer service, and paying claims fairly and promptly.
· What discounts are available to your business (multiple policy discount, etc.).
· About the process for filing and settling a claim with your chosen insurance company.
You’ve worked too hard to build your business to leave it to chance when it comes to protecting your property. Call the insurance experts at Cameo Insurance for a commercial property insurance quote. We’ve helped business owners all over Greater Los Angeles—from Inglewood, to Culver City, to South Bay, to Santa Monica. We look forward to becoming your trusted insurance agent.