Commercial Property Insurance from New York Professionals

Operating a successful New York business requires more than an idea and hard work. You also need a place to conduct business, computer equipment, furniture, inventory, and other equipment. All of this quickly adds up, and if you were to lose it to a fire, theft, or other devastating event, your business could falter or fail. Commercial property insurance can help protect your business and your investment.

What Does Commercial Property Insurance Cover?

Regardless of the industry, every business faces certain risks. Fire, storm damage, and theft are situations that could strike any business at any time. When such an event occurs, it can cause serious physical and financial harm to your business. If you are faced with having to repair and replace the necessary equipment and other property, you need to have the resources to do so in order to reopen your business quickly. New York commercial property insurance can help protect against these and other common situations.

Typically covered property includes:

  • The physical structure of your office building
  • Signage
  • Furniture
  • Computers
  • Industry-specific equipment
  • Inventory
  • Customer’s property within your business space
  • Records and documents

Rental spaces may or may not be covered within your policy. You should consult your lease to determine the extent of your insurance obligations. In some situations, the structure will not be covered, but any additions you make will be. Your insurance agent can help you find a policy that works with your lease and landlord’s insurance coverage.

Call us or set up an appointment to learn more about what makes each member of our team a dynamic resource for your New York or national insurance needs.

Commonly Covered Events in New York

Property insurance coverage is designed to cover common events that can produce significant damage to your business property. Policies vary on what specific events are covered and excluded, so you should check with your agent to ensure you have appropriate coverage.

Typically, the following events will be covered by most policies:

  • Fire
  • Smoke damage
  • Explosions
  • Wind damage
  • Lightening, hail, and other storm damage
  • Theft and vandalism
  • Water damage from broken pipes or sprinkler systems

Flooding and earthquakes are typically excluded from all commercial property policies. If you work in an area where these events are likely, you will want to purchase separate coverage for these events.

The success of your business depends on your ability to protect your assets from common threats. Commercial property insurance provides important coverage to New York businesses seeking to protect their business space, inventory, tools, and other equipment from fire, theft, and other loss situations

 

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