What Is Business Property Insurance?

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Business property insurance helps protect your company’s physical assets in the event of a covered loss due to fire, theft, vandalism, and more. Also known as commercial property insurance, it is a core component of a business owner policy.

Losses not covered by a business property insurance policy are usually those caused by floods and earthquakes.

What Does Business Property Insurance Cover?

A business property policy covers everything inside your building, as well as many items just outside of it. This includes:

  • Computers
  • Exterior signage
  • Furniture
  • Important business documents like accounts receivable
  • Inventory
  • Landscaping and fencing
  • Personal property
  • Tools and equipment
Business Property Insurance, San Tan Insurance, Gilbert AZ

Most commercial property policies cover these items against losses due to theft, fire, burst pipes, vandalism, and lightning strikes.

How Much Does Business Property Insurance Cost?

Business property insurance costs vary widely based on a number of factors. These include:

  • Your location
  • The type of business you operate (a sales office is lower risk than an auto shop)
  • The construction materials used in your building, such as wiring, fireproofing, plumbing, and HVAC
  • Fire protection, including whether there’s a sprinkler system and distance to the nearest fire station
  • Theft protection, such as a security system

Pricing also varies according to the amount of insurance you need. In other words, how much would it cost to replace the items being insured? Finally, just as with personal insurance, bundling commercial policies can reduce your per-policy price.

Do You Need Business Property Insurance?

Commercial property insurance is recommended for any business that has a physical location. To learn more about a business property policy can benefit your business, call San Tan Insurance at 480.391.3883. You can also complete our contact form and we’ll get back to you as quickly as possible.