What Is Commercial Property Insurance?

Commercial property insurance is important for companies of all sizes and across all industries. These policies can protect a business from the losses and damages that may arise from many common incidents.

For over 95 years, the insurance professionals at Gaudette Insurance Agency have been helping businesses in Grafton, Westboro, Shrewsbury, Whitinsville, Southborough, Northbridge, Uxbridge and Millbury acquire the right commercial property coverage.

What Does Commercial Property Insurance Cover?

For most businesses, damages and losses can come in many forms. Fortunately, commercial property coverage casts a wide net and includes protection for the following:

• Buildings
• Equipment or tools
• Fences and landscaping
• Inventory
• Furniture
• Signage
• Property owned by other parties

Most commercial property policies will include coverage for damages arising from the following incidents:

• Fires
• Storms
• Theft
• Vandalism
• Burst pipes

It may also be possible to acquire additional coverage for other events, including hurricanes or flooding.

How Much Does Commercial Property Insurance Cost?

Like most insurance policies, the cost of commercial property insurance varies. Providers will usually consider the following:

• Location—Businesses located in areas where natural disasters or severe weather are common may have to pay more for coverage.
• Construction—The physical makeup of your building is a factor. For example, your costs may be lower if wiring and plumbing have been recently updated.
• Industry—The everyday tasks carried out at your business are key. Certain businesses, such as restaurants or auto shops, may carry more significant inherent risks and therefore be quoted higher premiums.
• Protection—If your business has a fire alarm or security system or happens to be located across the street from a fire station, the cost of coverage could be lower.

Get the Right Coverage

Commercial property insurance policies are key to protecting your company’s finances and future. Without adequate protection, a single incident could result in irreparable ramifications.

Contact the agents at Gaudette Insurance Agency to discuss your business’s coverage needs and to get a quote.