How to Insure Equipment, Fixtures and Inventory Inside Your Commercial Property

Accounting for possible losses related to your commercial property is a critical part of keeping your business financially secure. Making sure various assets are properly covered can help your business recover quickly from unexpected events that might otherwise incur significant out-of-pocket losses and derail normal operations.

What Is Commercial Property Insurance?

Commercial property insurance is a type of policy designed to financially protect physical assets owned by a business. This typically includes owned structures, as well as insured buildings’ contents. Policies typically cover damage caused by events such as fire, vandalism, storms and certain types of water damage. These are often foundational policies for any business with a physical location or tangible assets.

Does Commercial Property Insurance Cover a Building’s Contents?

Most commercial property insurance policies include coverage for the contents of the building. This can encompass furniture, fixtures, machinery, electronics and inventory. However, coverage limits and exclusions vary by policy. For example, high-value items or specialized equipment may require additional endorsements or separate policies. Additionally, certain perils, such as floods, may be excluded from standard commercial property insurance. It’s crucial to review your policy details to understand what’s covered and under what circumstances.

How Can My Business Make Sure It Has Adequate Coverage?

When assessing your coverage needs, start by conducting a thorough inventory of all assets inside your property. Determine realistic replacement values and consider how critical each item is to your operations. Work with an insurance agent to tailor your policy to your specific needs, including any necessary riders for high-value or specialized items. You should also revisit your coverage regularly and update it as necessary, should your business grow or pivot.

How to Get the Right Coverage Near Me

If you’re looking to insure commercial property in Cuyahoga Falls, OH, the team at Garlesky Insurance Agency can help assess your needs and explore available options. Contact us today to learn more or compare personalized quotes.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.