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Property Insurance
Commercial property insurance is designed to protect you in the event property owned by your company is lost, damaged or stolen. In most instances, it covers the cost to repair damaged property and to replace what you've lost.
Different types of property insurance policies protect against different risks or perils, and they are tailored to fit the needs of a particular business. However, there are two general types of policies: named-peril policies and all-risk policies.
- Named-peril policies protect against losses resulting from only those perils the policy names.
- All-risk policies protects against all perils expect those specifically named. Most businesses are better off with an all-risk policy, as it offers broad coverage, rather than item-by-item coverage that may require separate policies for each class of property.
You can buy separate policies to protect your property against perils that might be excluded from your commercial property insurance, or for those items for which you need specific coverage. Specialized coverage can include the following:
- Flood — Most general policies exclude coverage for flood damage. If your business is located in a flood zone, you should consider a flood insurance policy.
- Crime — Crime insurance protects you against on-premise burglary, off-premise robbery, embezzlement, employee theft and more.
- Inland Marine — In contrast to most commercial property policies, this protects items of value in transit, such as valuable tools, artwork or jewelry.
- Automobile — This can protect your business's vehicle against collision damage as well as from perils such as fire, wind, hail or vandalism.
- Cargo — This covers losses to inventory or goods on board a company truck.
- Fire — Standardized in the U.S., these policies cover losses from fire and lightning.
Sabal Insurance Group has the expertise to evaluate your business insurance needs and recommend the appropriate coverage.
Let's Talk About Your Property Insurance Needs
For additional information on our property insurance programs, call us at 800 716 9948 or contact us today.