Protecting your physical location and equipment is important for any small business. That’s where business property insurance comes in. This type of business insurance, also known as commercial property insurance or business personal property insurance (BPP), helps protect the owned or rented equipment, building and personal property at your company.
This coverage can help cover the costs to repair or replace:
Business personal property insurance can help protect your building, tools and equipment from a variety of claims. This includes:
Business personal property coverage is different than homeowners insurance. It offers more property coverage for your business compared to a standard homeowners policy, which may include little or no coverage for business property.
Be aware that if you have a home-based business, your homeowners policy doesn’t protect your business’:
Your home policy also won’t protect your business property if it’s stored in a different location. So, you may want to get business personal property insurance to ensure you have enough coverage for your company. Get more commercial property insurance tips.
Business personal property is covered under a Business Owner’s Policy. A BOP combines three essential types of coverage that many small business owners need, such as:
Intangible personal property are things your business owns or rents but may not have a physical appearance. This can include things like:
At a minimum, you need property and casualty insurance to help protect your business. So, you’ll want to get business personal property insurance along with general liability insurance. Without these coverages, you may have to pay claims and damages out of pocket, which can put you and your business at financial risk.
No matter what industry you’re in, business personal property insurance can help protect your company. Here are just a few of the industries we cover:
We know how hard you work to run your small business. That’s why small business property insurance is important. Without it, small business owners would have to pay out of pocket to repair or replace damaged or destroyed property. This can cause you to temporarily close your small business, which can impact your bottom line.
Not every insurance company is the same. We’re backed by over 200 years of experience and our dedicated small business insurance team has helped small business owners for over 30 years. We make it our business to have your back. Our team can help if you’re looking for an insurance quote, need a business personal property insurance policy or are wondering what coverages you need to fit your specific needs. Learn more about what business insurance to have for your business.
Get answers to frequently asked questions about commercial property insurance.Get a business insurance quote today to find out your business personal property insurance cost and see how we can help protect your company.
