Business Property Insurance
Whether you’re just opening your business or have been up and running for years, property insurance is a must-have coverage. But it protects much more than the physical location of your business. It also covers business personal property and your business income. That adds up to make this one powerful policy you’ll want to include in your business’s insurance plan.
Which businesses need property insurance?
Property insurance is ideal for retail and service business owners, but a good way to approach it is if your business has a physical location, you’ll want to make sure you have property insurance. The amount of insurance you need will vary based on your inventory, equipment, and other business personal property factors.
When would I use business property insurance?
To help you really see the scope of all the things property insurance can cover, we’ve outlined some common situations that businesses have used property insurance for to get up and running again.
Building Coverage
- Your business experiences a fire.
- An act of nature caused extensive damage to your building.
- Someone vandalized your business.
Business Personal Property
- Someone breaks in and steals and/or damages your equipment or inventory.
- Your computers were damaged or stolen.
- A customer’s property was stolen while in your care.
- Personal or financial data is lost or stolen.
- Your business loses power and perishable items are destroyed.
Business Income
- You can’t open your store due to damages or repairs being made.
- You’re not making rent off the property while it is being repaired.
Are there any optional add-ons for business property insurance that I should consider?
Absolutely! This is where Zeiler Insurance can really tailor your business insurance plan to you. Some of the policy enhancements you can add on include employee dishonesty coverage (helps you recoup losses if you find an employee has stolen money or property from your business), equipment breakdown coverage, and coverage for outdoor signs.