Commercial property insurance protects the assets within your business. Your business insurance policy will usually give your assets ample protection. If you lease your business's space, there are a few things to consider about what to insure.
Protecting the Property
Most commercial property insurance plans provide coverage for the actual structure of the property. In this situation, it will likely provide coverage based on your specific requirements. For example, if you are responsible for insuring the space, the insurance agent will customize the plan to fit just your obligations. This may include any interior and exterior space.
Protecting Your Business Equipment
Your commercial property insurance also needs to protect any equipment in your location. In a restaurant, this might include items such as your cooking equipment and freezers. Equipment is usually any valuable asset necessary to the operation of your business. Equipment ranges in type and value. Be sure to choose a property insurance plan that offers ample coverage. It should be enough coverage to allow you to replace the equipment if it fails.
Protect Your Business Electronics
Your company's electronics and systems are very important to the operation of it. Having ample business insurance is necessary to protect these assets. Your commercial property insurance plan will likely do so. However, the coverage needs to be enough to cover the actual value of replacing these items if you have to do so.
Protect Your Company's Inventory
Some companies routinely carry inventory. These are items used to make the products you sell. They can also be the stock you sell directly to your customers. Most property insurance provides inventory protection up to a certain level. Be sure to maintain an accurate record of what you own and what is on hand. This will help if you have to file a claim.
Commercial property insurance should be comprehensive. It needs to meet your specific financial needs. It also needs to match the value of what you own. Work with your business insurance agent. He or she can help you customize your plan to match the type of business you have. They can also help you minimize loss in situations where a fire, theft, or vandalism occurs.
Do you need Oakland CA commercial property insurance? Call JSW Insurance at 925.737.1560 right now. We can help you get a fast, free quote on an affordable policy.