Comprehensive Commercial Property Insurance with Rollo Insurance

What is Commercial Property Insurance?

Commercial property insurance protects your company’s physical assets and real estate from unexpected events. This coverage includes buildings, equipment, inventory, and other essential items for daily operations.

Why Your Business Needs Property Insurance

Whether you own your building, lease, or work from home, commercial property insurance is vital. It covers the cost of repairing or rebuilding a building, personal property, computers, furniture, equipment, exterior signs, fencing, landscaping, important documents, inventory, and lost business income due to property damage.

How Much Does Commercial Property Insurance Cost?

The cost of commercial property insurance depends on the value of your business assets and various risk factors, including:

• Location: Is the area prone to storms or natural disasters?
• Construction: Is your building made with fireproof materials? Does it have updated electrical wiring, plumbing, and HVAC?
• Occupancy: What is your industry? A realtor’s office generally has less risk than a restaurant or repair shop.
• Fire and Theft Protection: How close is the nearest fire hydrant and fire station? Does your business have a fire alarm, sprinkler system, or security system?

Determining the Value of Your Business Property

Commercial property insurance pays for losses based on the replacement cost or actual cash value of the item.
Replacement Cost (RC): The amount needed to repair, replace, or rebuild property on the same premises with comparable materials and quality, without deducting for depreciation.
Actual Cash Value (ACV): The cost to replace the item with new property of similar style and quality, minus depreciation.

Policies covering property on an ACV basis generally have lower premiums due to the depreciation deduction, but this amount may not be sufficient if you choose to insure the property on an RC basis. Your insurance agent can help ensure your property is adequately insured.

Why Do You Need Commercial Property Insurance?

Commercial property insurance can protect your business from minor hiccups to major losses, such as:

• Fire: A fire could destroy your building and its contents.
• Water Damage: A burst pipe could damage valuable documents.
• Storm Damage: A storm could damage your outdoor sign.

Protect your business with comprehensive commercial property insurance from Rollo Insurance. Contact us today to learn more about our coverage options.