When you run a company in Muskogee, OK, you need much more than liability insurance to cover your risks. One of the essential policies for entrepreneurs is commercial property insurance. It’s typically bundled as part of a business owners policy (BOP). D & E Insurance Agency can help you understand how commercial insurance will protect your business investment.
Coverage Provided by Commercial Property Insurance
These policies cover the physical assets your business needs to operate, including the buildings where operations occur and other business property. Structures covered include additions, permanently installed fixtures, and other equipment listed in the policy. If these structures sustain damage or are destroyed by a covered risk like a fire or storm, you’ll receive compensation for replacement or repair.
Commercial property insurance also covers inventory, supplies, computers, furniture, tools, and the like, even if you don’t run your business out of the covered building. The only requirement is that the building must be part of your operations, such as a storage facility.
Covered Perils and Additional Options
Commercial property insurance generally covers damage or destruction caused by the following:
- Fires, lightning, and explosions
- Theft, burglary, and vandalism
- Windstorms and hail
- Falling objects
- Burst water pipes
You can also include endorsements, or add-ons, in your policy for things not covered by standard commercial property insurance. These may include:e
- Equipment breakdown coverage for unexpected mechanical failures
- Business interruption protection to cover lost income, rent, and payroll if you must close temporarily due to a covered loss
- Sewer backup coverage for clogged pipes and sewer overflows
Read your policy carefully to determine what it does not cover. Typical exclusions involve damage from earthquakes, floods caused by overflowing rivers, and normal wear and tear.
Contact Us for a Commercial Insurance Quote
Learn more about commercial insurance by contacting the professionals at D & E Insurance Agency. We’re currently serving Muskogee, OK.
