Florida Commercial Property Insurance

Overall, 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. Also, our friendly agents can help guide you through the process of getting Florida Commercial Property Insurance.

Generally, the commercial property insurance in Florida will cover more than just the single building. When a limit of insurance applies, the policy treats many other things as the building. Completed additions, fixtures, permanently installed machinery and equipment. In addition, the policy covers property you own and use to service or maintain the building.

In fact, Florida commercial property insurance treats business personal property as more than just the contents of the building. Other items may qualify if they sit inside the building or outside it within 100 feet. Policies often also cover machinery equipment, stock, labor materials and leased property you must insure by contract. Overall, business personal property insurance is a must for most industries.

However, a standard commercial property policy does not cover many items. In these cases you need additional coverage or a different policy. Some of these items appear below, and they 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

When your commercial property policy includes replacement cost value, this means that the carrier will pay a covered loss for the cost to replace the item / property / contents / building, damaged. This of course depends on the limit on the policy and on meeting your co-insurance requirements.

Learn more about Actual Cash Value vs Replacement Cost.

There are three levels of causes of loss coverage. First, 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. Finally, special form causes of loss cover all damage not excluded in the policy.