Commercial Property insurance protects both the physical assets (buildings, equipment, contents and inventory), as well as business interruption coverage. In addition, suffering a loss to your business can cause downtime so not only would you then have to cover the costs for your loss but also the loss of revenue. That’s why commercial building insurance is so important!

If you start making a list of all the assets your business owns, you can realize how quickly the costs would jump up if you were required to replace everything out of pocket. The items may include:

• Equipment
• Inventory and supplies
• Office furniture and fixtures
• Computers and electronics
• The personal property of employees while on-site
• Customer property at your business site
• Lighting systems
• Windows
• Outdoor signs
• Fencing and landscaping
• Tools and equipment in transit or used off-site for business purposes.

Typically your commercial property insurance can cover the following:

• Repair cost
• Replacement costs
• Business interruption coverage
• Unexpected losses

Your business is unique to you and therefore, the cost of commercial property insurance is unique to you! There are a number of factors that determine the cost of your commercial property insurance premium. These include:

• Location: Where your business operates can impact your cost. This may include crime rates, flood risk or proximity to emergency services
• Replacement costs
• The age of your property
• Electrical work and plumbing

By understanding what impacts the cost of your premium can actually help you lower them. Replacing your roof, upgrading electrical or increasing security may be an option for you. It’s also worth checking with your tax advisor as oftentimes the cost of your commercial building insurance can be a deductible expense.

You can begin by filling out our online quote form for your insurance with the Fairstar Insurance . We will shop different commercial property insurance companies on your behalf to find the most suitable commercial building insurance company offering the coverage you need at the best possible price we can find.