Property & Casualty

Business Property Insurance Helps Protect What You've Worked Hard to Build

Business Property and Casualty Insurance

Property and Casualty A complete business property insurance plan is one of the smartest investments you can make in your business. It protects the costly, physical assets of your company such as the building, its contents and even outdoor fixtures such as signs and fencing.

Property and casualty insurance is insurance that protects against property losses or inventory losses. This type of insurance can protect a person or a business with an interest in the insured physical property against losses. Whether you own your building or lease your workspace, business property insurance protects your business’ physical assets.

Savvy business owners know that a fire or severe windstorm can shut down a business for an extended period of time, often leading to a permanent closure. But with a comprehensive business properties insurance plan, you’ve got support and financial assistance to help you recover quickly.

Commercial property insurance plans vary from policy to policy, but are generally categorized by the type of event leading to a loss, and by what specifically is insured.

Business Property Insurance Facts
Small business property insurance is one of the most important investments you can make in your company. Below are examples of the business that commercial property insurance helps protect:

  • Building
  • Outdoor signage
  • Furniture and equipment
  • Inventory
  • Fencing and Landscaping
  • Other Properties

Basic property insurance usually covers losses caused by fires or explosions, theft, damage from vehicles or airplanes or acts of vandalism. Additional coverage can be added for earthquakes and glass breakage. The essential items to insure in a business property insurance plan include your building, office equipment, inventory and outdoor items on the premises.

Casualty Loss Coverage
Commercial property insurance plans pay for losses based on the replacement cost of the item or its actual cash value. Replacement cost (RC) typically refers to the amount necessary to repair, replace or rebuild property and/or inventory on the same premises, with comparable materials and quality without deducting any amount for depreciation.

Actual cash value (ACV) usually refers to the cost to replace inventory or property with new property of similar style and quality, less depreciation.

TelePay Insurance Agency offers Business Property and Casualty coverage and expert advice. Let us help you discover what coverage is right for your company.

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