What Is Commercial Property Insurance And Do You Need It?

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What Is Commercial Property Insurance And Do You
Need It?
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• Whether you own your own building, lease your
  company premises or work from home, business
  property insurance is a necessity, and heres
  why
• What is commercial property insurance?
• This insurance protects the physical assets of
  companies that have been affected by fire,
  storms, theft, vandalism and many other forms of
  destruction. Perils such as floods and
  earthquakes can be included in the coverage, but
  usually only if added to the policy.
• What does it cover?
• Coverage includes the building in which the
  company operates, everything inside the building
  and some items on its perimeters. These can
  include

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• Computers and other electronic equipment
• Furniture
• Exterior signs
• Important documents
• Fences and landscaping
• This type of insurance protects the structure and
  fabric of the company premises and safeguards the
  owners and occupiers liabilities.

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• As the owner of a commercial building, do you
  need commercial property insurance?
• If youre running a business from a commercial
  building that you own, then without adequate
  insurance to protect it from such events as fire,
  storm damage and theft, your investment could be
  left hanging in the balance. The IPF, or
  Investment Property Forum, advise that many
  commercial properties are especially susceptible
  to environmental factors that can lead to
  catastrophic loss or damage of the premises, such
  as from floods or land contamination. It goes
  without saying that if any equipment or machinery
  that is used to make your product or provide a
  service becomes damaged, and you dont have the
  insurance to cover it, your business could very
  quickly be at threat.

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• Also, as the owner of the commercial building,
  you are liable for any injuries or damage
  sustained to the property by third parties, who
  may then go on to make claims for substantial
  damages if youre found to be negligent in your
  duty of care.
• Your duty of care - as the owner of a commercial
  property - is also extended to any tenants that
  may be using the premises, and your indemnity
  against any claims they may make is secured by
  commercial landlords insurance.
• You may not know that whether you use your
  commercial property yourself, or have leased it
  to tenants, you have a legal obligation to hold
  employers liability insurance, and this helps
  protect you from claims made by any employee
  (past or present), who suffers an injury because
  of work carried out for you.

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• What if you lease commercial property?
• While as a tenant leasing a commercial building,
  your landlord is likely to have arranged building
  insurance, you still need to protect the contents
  of the building that belong to you, and this best
  done through commercial property insurance. Your
  landlord may also have arranged property owners
  liability insurance, but you may still be left
  liable for claims made by visitors to the
  premises, or from neighbours or member of the
  public who suffer an injury, or have their
  property damaged as a result of your business
  practices.

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• If youre the leaseholder of the premises from
  which your business operates, and are employing
  workers, then again, you have a legal obligation
  to hold employers liability insurance to meet
  any claims from past or present employees.
• So, if you own or lease a commercial property,
  then you will almost certainly be required to
  have commercial property insurance. To know more
  about what policies are available, talk to your
  local insurance experts.

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• We Insure Miami was founded on the principle that
  every individual and business, big and small, has
  assets and valuables that need to be protected
  and insured against forces outside of our
  control. We offer Auto, business and homeowners
  insurance in miami. Our agents understand that
  you work hard every day to protect your car,
  home, business and family. WE are passionate
  about Insurance and passionate about serving you.
  If you are looking for home or business or auto
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  a complimentary review of your insurance policies.