REST EASY. YOUR ASSETS ARE PROTECTED.

WHAT IS A COVERED EVENT?

Types of covered events include:

• Natural disasters like hurricanes or fires
• Lightning strikes
• Vandalism
• Theft

The commercial property policy will contain a number of exclusions which will outline what is not covered.  Additionally, endorsements will explain where coverage may be enhanced or limited.  It’s important to discuss coverage options with your insurance provider to guarantee that your business is getting the customized protection it needs for the risks it faces. 

WHAT DOES COMMERCIAL PROPERTY INSURANCE COVER?

Types of property that are commonly insured under a commercial property policy are:

• Buildings
• Furniture
• Inventory
• Money and securities
• Records of accounts receivable
• Leasehold improvements and betterments
• Machinery/boiler
• Electronic data processing equipment
• Valued documents
• Signage

Mobile property or property in transit may also be covered under a commercial property insurance policy but, more commonly, under an Inland Marine policy.

Policies may also cover the cost of replacing lost, damaged or stolen items as well as any loss of income that may have been a result of that covered loss.

Essentially, Commercial Property Insurance will step in when your business has been knocked out of action due to an unforeseen event, and help you get that business back up and running as fast as possible. 

WHAT ARE RECOMMENDED PROPERTY COVERAGE FOR FLORIDA BUSINESSES?

Due to unique risks, there are coverages of particular importance to businesses operating in the state of Florida.  Florida-based businesses should ensure that their Commercial Property insurance program covers the following:

• Hurricane/Wind Insurance – Most property insurance policies include this form of coverage. However, it’s an important one for businesses in South Florida due to the heightened risk of hurricane-related damage like flooding, property damage or property loss.
• Business Interruption / Business Income – After property damage or a natural disaster such as a hurricane, continuity is critical.  There are few things more important than continuous revenue and cash flow.  This form of coverage provides protection against a variety of common interruptions, including natural disasters, property damage, and vandalism.
• Flood Insurance – Flooding can be a risk to any business whether inland or near a coastline.  While those in higher hazard flood zones may be more at risk, businesses in low risk flood zones still may experience significant flooding.

HOW DO I KNOW WHAT COVERAGE IS BEST FOR MY BUSINESS?

Speak with one of our professional risk advisers who will assess the risk associated with your specific properties and detail customized solutions for your needs. There is no obligation – just free expert advice.

COMMERCIAL PROPERTY ASSESSMENT