Business Property Insurance

Get the best coverage for your business properties

It’s taken a lot of hard work and continual investment in your equipment, facilities, and staff to build your business to what it is today. You need to d what you can to make sure nothing happens to your business investment.

An East Insurance Group agent can get you ’s business commercial property insurance can protect your business with a custom, up-to-date business property insurance policy that can save you from minor damages to major financial losses. Whether you own your building, lease your office or work at home, business property insurance protects your business’ physical assets.

For example:

  • The commercial building in Bensonhurst, NY that was damaged in a fire
  • The apartment building in Dundalk, MD that forced dozens of tenants out of their house when a pipe burst
  • The technology company in Mcdonald, Pa that lost weeks of work due to a fire

Commercial property insurance plans vary from policy to policy but are generally categorized by the type of event leading to a loss, and by what specifically is insured.

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What Business Property Insurance Covers

If a storm, fire, theft or other event damages your building, its contents, or any outdoor fixtures,  your business faces serious financial damage. Buildings and equipment replacement costs can be quite steep and are often higher than you think, and this can force your business to shut down until everything is repaired.

Small business property insurance is one of the most important investments ensuring the future of your business. Here are some of the important aspects of your business that commercial property insurance helps protect your building, outdoor signs and furniture, and equipment as well as your inventory, landscaping, and fences.

A complete business property insurance plan is one of the smartest investments you can make in your business. It protects the costly, physical assets of your company such as the building, its contents and any outdoor fixtures such as signs and fencing.

Savvy business owners know that a fire or severe windstorm can shut down a business for an extended period of time, often leading to a permanent closure. But with a comprehensive business properties insurance plan, you’ve got support and financial assistance to help you recover quickly.

How does property insurance protect your business?

When you launch a new business, business property insurance is one of the first types of insurance you should look into. This coverage covers your property should anything be lost, stolen or damaged.

If you don’t own the building where you do business, you’ll only need to get building contents coverage. This policy protects your fixtures, furniture, office equipment, inventory and the supplies that you store either at your location or off-site.

How Much Does Business Property Insurance Cost?


Business property insurance premiums will vary depending on whether they cover replacement cost or actual cash value. Replacement-cost policies ensure that your settlement is based on what you will have to spend to replace the items at current market prices, while an actual cash value policy reimburses you for the property’s depreciated value.

Replacement-cost small-business property insurance policies have higher premiums, but because they allow you to replace all lost or business property insurancedamaged property with new items, such policies can help your business quickly recover from a loss. Also, if you are leasing any equipment, your leaseholder may insist that the property is insured for its replacement value. That’s why most property insurance coverage is written on a replacement value basis.

We can help you secure the best commercial property insurance for your small business’s budget and needs – whatever those needs may be.

What is Business Property Insurance?

Below are just a few of the important ways business property coverage can help you in the event of a loss. (Some coverages may not be available on all policies or in all states)

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How Much Does Property Insurance Cost for a Small Business?

Even when you have a small business, you should get property insurance. It is the only way to stay protected from theft, robbery, natural disasters, fire damage, etc. The price of the insurance policy would vary based on many factors. For instance, suppose you are going for replacement-cost small-business property insurance. This type of policy comes with a significantly high premium, but they are worth the effort since you can replace almost everything in your business in case of some trouble. On the other hand, if the insurance package does not offer complete replacement options, you can save some money on the premium. Still, you will have a partial revamp experience if something unexpected happens. The cost would also depend on the type of business you are running and its inherent risks.

Business Income

Reimburses you for your actual loss of earnings from12 months to 18 months resulting from a covered loss to your property. Also covers extraordinary expenses you incur in order to continue operations after a covered claim.

Computers & Media

Provides coverage for your computers, peripheral devices and media. Coverage is also provided for the costs to research, replace or repair lost or damaged data and software as a result of covered damage to computer equipment, certain power failures, or a computer virus. Business Income Coverage, if purchased, also applies to computer equipment, data and software.

Business Personal Property Insurance (Contents)

 Provides coverage for furniture, fixtures, merchandise, materials and all other personal property owned by you and used in your business. Coverage is at replacement cost.

Property of Others

Protects you against loss or damage to the property of others that is in your possession at a job site or on your premises. This coverage would respond to claims for accidental damage to customer equipment in your care, custody or control.



Up to $10,000 for laptop computers, PDAs and similar portable computer equipment anywhere in the world, including while in transit. (Not covered if checked as baggage)

Equipment Breakdown

Covers the cost to repair or replace equipment, such as computers, air conditioners, phone systems and steam boilers, following a loss or damage caused by mechanical breakdown or artificially generated electrical current.

Lock and Key Replacement

Pays for rekeying of locks, up to a specified limit, at your business premises following the theft of your keys by a burglar.

Money and Securities

Protects money and securities used in your business if they are stolen, destroyed or lost.

Note: This summary outlines in general terms the coverages afforded under some policies. Examine the policy carefully for any exclusions, limitations, or any other terms or conditions that may specifically affect coverage. The terms and conditions of the policy prevail.

Why do I need Business Property Insurance?

Even if you run a home-based business and have home insurance, you’ll need to protect your business assets with separate contents and computer insurance; your home owner’s policy probably will not cover business equipment.

Contents and computer insurance

Protects your business equipment from perils such as fire, storm damage or theft. To determine how much property or contents insurance you’ll need, create an itemized list of your business’ assets and their individual dollar values. Then decide which assets you actually want to insure and for what value.

In some cases, you may decide against insuring a particular asset, because it just doesn’t warrant the cost of the premium. In other cases, the premium may be well worth paying.

Business property insurance coverage is typically packaged with additional coverages for property issued to you by a client that is temporarily in your custody and Business Interruption Insurance that pays for loss of earnings when operations are curtailed or suspended because of a covered property loss.

Let the Commercial Insurance Agency, help you understand and protect all of the risks you run and all of the perils your business faces. We will do this with a well thought out and executed business insurance policy designed just for our Commercial Real Estate Insurance policy holders.

Also Read: Handyman Insurance