WHAT IS COMMERCIAL PROPERTY INSURANCE?
Commercial Property is first-party insurance that reimburses the owner or occupant for damage to buildings and contents from a covered peril. This insurance is a way of transferring the risk of losing the value of your assets because of things outside of your control. Sometimes it can be the weather, human error, or a combination of both, but either way, with the proper insurance, you can protect against uncontrolled depreciation of your assets. Not only that, but the proper insurance can assist you in the costs of continuing business after your building has been destroyed or damaged. Your business will still will have payroll, mortgage expense, vendor invoices, or other bills due to that could normally bankrupt a business, but with the proper insurance, these bills could all be reimbursed in addition to the cost of your building being rebuilt.