Although most business owner policies (BOPs) do provide coverage for property, this most often pertains only to the actual structure of your business. Under a BOP, generally, the structure of your business is covered from events of “peril” and causes of loss. What about the furniture, computers, and equipment in your building? Who will cover the cost of replacing an outdoor sign?
This is where Commercial Property Insurance comes in. A typical Commercial Property Insurance policy will cover the property of your business that a BOP will not. Most insurance agencies can compile a Commercial Property Insurance line to include coverage for:
Commercial Property Insurance is customizable in most cases, allowing you to provide more coverage for the things that truly matter to your business, and less coverage to the things that do not. Don’t think you need Commercial Property coverage? Consider this: if a fire erupts in the building of your business and you lose your entire inventory, are you positive that your BOP provides enough coverage to replace it all? If someone breaks into your business and steals expensive equipment, are you positive your BOP provides enough coverage to replace it in full?