Commercial property insurance is an insurance policy for businesses that will cover the repair and replacement of certain business assets in case of fire, theft, windstorm or other covered loss. A commercial property insurance will help cover the damage to the commercial building and its contents, such as equipment, furniture, inventory, and even property that is not yours but it is in your care and custody. The policy may also cover loss of income if you can’t open your business because of a covered loss.
Although commercial property insurance can be purchased as a standalone policy, many businesses choose to purchase it in a package, where it can be combined with general liability insurance. General liability helps to protect your company from bodily injury and property damage claims made against your business.