Many business owners assume that their BOPs, or business owner policies, provide all the coverage needed for their commercial property. However, it doesn’t hurt to check that lost inventory due to a fire or stolen equipment would also be covered- often times only the actual structure, not the contents within, is protected. The knowledgeable and experienced team at Mountain Insurance: Longmont can ensure that you have the right amount of coverage for your specific business with a custom Commercial Property Insurance Package.
What is Covered Under Commercial Property Insurance?
- buildings, including any structures under construction
- commercial property; such as inventory, equipment and furniture
- leased machinery or materials used for business
- holdings of a 2nd party you are liable for
- exterior signage and landscaping
What Would a Commercial Property Policy Pay For After a Loss?
- taking inventory for filing claims
- getting appraisals
- cleaning up debris
- removing pollutants from the affected land and water
- recharging fire extinguishers
What are Other Options in a Commercial Property Policy?
- Ordinance Coverage- Applicable when an unaffected part of the building needs to be demolished with the rest of the damaged portion. Also covers necessary upgrades to meet current building codes.
- Equipment Breakdown Coverage- Covers lost income when machinery fails suddenly until repairs are made.
- Utility Services- Protection for a loss of income or commercial property due to interrupted power, water or communication utilities.
- Inflation Guard- Extra coverage to deal with inflation on your commercial property value; the policy limit automatically rises at your selected annual percentage rate.
Steve Longenecker and the staff at Mountain Insurance: Longmont take pride in providing the best possible customer service to our business clients and offering the most comprehensive yet competitive coverage available for commercial property insurance. Contact us to discuss your unique business needs and we will get back to you right away with a free quote!