A comprehensive Commercial Property Insurance policy package may include:
Property Insurance: Financial coverage for the physical loss or damage to the physical assets of your business that you either own or rent, including space, furniture, inventory, and equipment due to fire, vandalism, or theft.
Commercial General Liability Insurance (CGL): CGL is a business insurance policy that protects you and your business from common risks you can expect to face as a business owner, such as third-party property damage and bodily injuries. CGL also covers legal and medical costs; should you be successfully sued.
Contents Coverage: This type of insurance provides financial coverage to replace or repair the physical assets inside your building or office space, such as furniture, equipment, and machinery.
Business Interruption Insurance: If you need to temporarily shut down your business due to a disaster, Business Interruption Insurance covers the income lost during the time it takes to restore business operations.
Equipment Breakdown Insurance: This type of insurance provides financial coverage to replace or repair equipment due to a mechanical or electrical breakdown.