Also known as commercial property insurance, business property insurance is designed to protect any business property and facilities your business owns or leases.
This can also cover the equipment, tools, inventory, and office furniture stored inside buildings or on the property itself. In some cases, business property insurance can even be written to help cover risks to important business documents and records, to help with the costs of temporarily storing, reproducing, or moving documents in the aftermath of a covered loss.
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Tomins understands that each business we serve faces a unique set of risks and needs. Yet commercial (or business) property insurance should almost always be considered a nonnegotiable business necessity. If you’re not sure that commercial property insurance is the right call for your business, the following brief guidelines can help you assess your needs.
You should seriously consider commercial property insurance if your business:
You deserve an insurance partner that works as hard as you do. Get a free online quote here today.
It depends. At Tomins, we take pride in custom-tailoring each customer’s coverage to the unique needs of their specific business. Depending on your risk exposure, the coverages we recommend for your business could vary drastically from what we would recommend for another.
As a basic guideline:
While coverage against flood or earthquake damage is typically not included in standard commercial (business) property insurance coverage, there is usually a way to add it as part of a comprehensive business owner’s policy. Find more information about BOPs here.
At Tomins, we realize certain businesses require the use of expensive equipment that it doesn’t always make sense to buy yourself. Whether you’re a general contractor renting a $250,000 crane or an IT firm storing an outside consultant’s laptop on your property, Tomins has you covered.
Our business insurance experts specialize in designing the perfect coverage for your unique needs. You deserve an insurance partner that works as hard as you do.
We get it: Running lean is a huge key to success as an entrepreneur. At Tomins, our entrepreneurial roots help us see things the same way you do. In the interest of making sure you’re getting the best ROI from your business property coverage, we brainstormed some tips to help guide your decision:
At the end of the day, we cannot overstate the importance of making these decisions with the help of a risk-assessment professional. While a short-term cost savings might be attractive, there are many circumstances in which the long-term cost of this strategy ends up being much more.
If you’re interested in exploring your options, Tomins has you covered. Get a free quote here or reach out to one of our business insurance experts today.