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Florida Commerical Property Insurance quote and information.
- What is commercial property insurance?
- What about building coverage?
- How about inventory and other business property?
- What is not covered?
- What causes of loss are covered?
What is commercial property insurance?
The typical insurance for business property policy will pay direct physical
damage to covered property. However, the loss must occur on the premises listed
in the policy and result from a covered cause of loss.
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What about building coverage?
The commercial property insurance in Florida will cover more than just the single building. When a limit of
insurance is included many other things are treated and covered as the
building. Completed additions, fixtures, permanently installed machinery
and equipment. Property owned and used to service or maintain the building
is also covered.
How about inventory and other business property?
Florida commercial property insurance treats business personal property as
more than just the contents of the building. Other items may be included
if inside or outside the building within 100 feet. Machinery equipment, stock, labor
materials and leased property you are contractually obligated to insure is often
also covered. Business personal property insurance is a must for most industries.
What is not covered?
There are many items which are not covered by a standard commercial property policy. In these
cases additional coverage or a different policy is required. Some of these items are
listed below and can affect business property insurance cost.
- Accounts, bills, currency, food stamps, evidences of debt, money, notes or securities
- Automobiles held for sale
- Underground pipes, flues or drains
- Electronic data
- Costs to research, replace or restore information on valuable papers or records
What causes of loss are covered?
There are three levels of causes of loss coverage. The most basic covers direct physical
loss or damage by fire, explosion, windstorm, hail, smoke or vandalism. Intermediate
causes also cover damage resulting from glass breakage, falling object and
weight of snow. Special form causes of loss cover all damage not excluded in the policy.
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