What Is Property Insurance?
If you own a business, a property insurance policy covers loss of or damage to your business’s physical space and equipment. It also pays for the cost of medical care for any customers or visitors who are injured on your business premises due to normal business functions.
Who Buys Property Insurance?
Every business needs property insurance. Here are just a few unforeseen calamities that can destroy a business:
- Fires
- Burglaries
- Natural disasters
Property insurance will cover the damage or loss of common items including furniture, supplies, computers, data processing equipment, valuable papers, books, documents, TV sets, DVD players, signs, fences, and outdoor property. Your insurer can reimburse you with actual cash value or replacement costs for the lost or damaged assets.
Remember that if your business doors are open to customers and visitors, anything can happen. Property insurance protects your business from any claims or lawsuits resulting from potential accidents.
What If I Rent My Office/Business Space?
You can still buy property insurance…and it’s highly recommended. Your landlord’s insurance may only cover his/her own property against damages or loss. That won’t include any furniture or equipment you’ve purchased. If in doubt, double check your lease.
Ready to Shop for Property Insurance?
We’re here to help! Give us a call and tell us a little about your business. We’ll go over your options and help you make an educated decision. For a free, personalized consultation, give us a call today at 916-773-3800!
