Commercial Property


Commercial property insurance—also called buildings insurance—is there to reimburse you for the value of your business’ stuff, like buildings, equipment, inventory, and even customers’ personal property in case it’s lost or damaged due to a number of causes. In CT  Property Insurance is divided into 2 categories.

  • All-Risk Commercial Property Insurance: All-risk Connecticut commercial property insurance covers a wide range of issues and events. The exact types of events covered are listed in the policy, and your helpful agent will go over those details with you. Many businesses buy all-risk commercial property insurance to cover the basics, and most find that this level of coverage works well for them.
  • Peril-Specific Business Property Insurance: Peril-specific commercial property insurance protects Connecticut businesses from specific types of events. In many cases, businesses buy the policies because they work in geographic or professional areas that put them at high risk. A business that has chemicals in its warehouse, for instance, probably has a higher risk of fire or explosion. A peril-specific commercial property insurance policy could protect the company from the financial effects of fire damage.

What Does Commercial Property Insurance Cover?

It covers the physical stuff that makes up your business, which means that coverage varies depending on your type of business. Some policies reimburse you for what it will cost to replace these items if they’re destroyed, and some will reimburse you for their actual value instead — usually a lower amount, thanks to depreciation.

Depending on your location, these types of coverage are included in most policies:

  • Fire
  • Theft
  • Tornado
  • Wind
  • Flood
  • Hail

Commercial property insurance offers a number of different options that need to be mixed and matched to fit your business. You can also add protection à la carte for coverage that is specific to your business.

  • For example: Spoilage coverage reimburses you for inventory ruined in power outages. It’s perfect for businesses that work with perishable materials, like grocery stores, retail shops, coffee shops etc.

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