Commercial Property insurance covers the buildings that the business owns or rents- protecting the business’s ability to operate in a stable financial way.
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Why Is Commercial Property Important For My Business?
Commercial Property insurance is a necessity for every business that owns and operates out of a building. The building and its contents comprise a large capital investment and a business must protect against any loss potential.
What Is Hazard Insurance?
Hazard insurance provides the security that in the event of any physical damage to the building or its contents, the business will be able to re-coop losses and quickly return to operations. Whether the business is a local convenience store, a production facility, a hotel, or a high-rise office building, the buildings that are owned by the business are critical assets that have involved a large investment of capital. Insuring against property damage and catastrophic loss is an essential part of any risk management portfolio.
Beyond the building itself, a business requires coverage for the equipment, inventory, and supplies that it owns. These items may be located within the building owned by the business, outside of the building, or in locations other than the primary business address. Not every business owns the building they operate from- many businesses rent/lease. The equipment, leasehold improvements, and supplies that the business has invested in will not likely be covered by the landlord’s insurance. MHG can help with Commercial Property insurance for renters and lessees.