Commercial property insurance provides a wide range of coverage for buildings, inventory, equipment, tools and more. You’re typically protected from losses due to fire, burglary, and natural disasters.
A basic commercial property insurance policy may be all you need, although there are variations on coverage plans through different insurance companies. As an independent insurance agent, Sharkey Insurance can help you determine the type of insurance policy and range of coverage that is best for your business and your life.
About Commercial Property Insurance
Do you own a commercial building? If so, do you have enough commercial property insurance to cover replacement costs? Although cost estimators are available, we recommend that you secure an appraisal from a third party to accurately determine the current replacement cost of your building. Give us a call today, and we’ll help you determine if you have enough commercial property insurance for your business.
Most commercial property policy plans don’t include flood coverage. If you’re unsure whether you’re covered or not, ask us to review your insurance policy, and we’ll help you find the best solution.
Business Personal Property Coverage
Business personal property insurance covers property at a specified location such as furniture, fixtures, equipment and inventory. Most commercial property policies have very limited coverage for property taken off the specified location. If you have equipment that is frequently taken off-site to various locations, it is important that you expand your coverage.
Business Income (Business Interruption Coverage)
If your business is forced to close due to natural disaster such as a fire, this type of coverage reimburses a business owner for lost profits during the time that the business is closed. This applies during periods when you are forced to close shop for repairs. Business income insurance may also cover financial losses that occur if civil authorities limit customer access to your neighborhood or business after a disaster. We strongly recommend that all businesses acquire this coverage.
Electronic Data Processing (EDP) Insurance
This coverage is separate property coverage specifically designed to protect your computer related equipment. EDP broadens your coverage of losses to include things like power surges and in some cases virus attacks.
Sharkey Insurance understands that with the complex and evolving state of the Montana business economy, there are different needs for different companies. Contact us today to find out what policy is correct for you.