Premiere Plus Realty Co.
Jennifer Johansen, Premiere Plus Realty Co.Phone: (239) 450-0822
Email: [email protected]

Why commercial property insurance coverage is essential for businesses

by Jennifer Johansen 02/04/2024

Commercial property insurance featured image with picture of storage space

Small and large businesses alike have much to handle every day however emergencies can arise, taking daily operation off course. This is why it’s important for companies to have commercial property insurance to protect the structure of their work base. 

What types of damages are covered under the commercial property insurance policy?

Commercial property coverage offers financial protection from: 

  • Theft.
  • Hail.
  • Wind.
  • Vandalism. 
  • Fire. 
  • Lightning strikes.
  • And more. 

Items insured include the building structure, work supplies, inventory and building attachments. For example, a fire may break out at a used tire shop, destroying inventory. The business owners can be financially compensated with replacement cost of supplies, and they can also receive lost income compensation. 

What is excluded from commercial property insurance?

Typically, auto accidents in company vehicles are covered by commercial auto insurance instead of commercial property insurance. Flood damage is not secured under standard commercial property insurance coverage, instead, a separate policy for flood coverage would need to be purchased to cover water damages. 

How much does commercial property insurance cost?

On average, commercial property insurance is about $800 a year. Business location, materials used for construction, industry type and more can affect policy cost. 

Who needs commercial property insurance?

Having commercial insurance is essential for company owners to protect their business. Business owners who have an office space, storage units, inventory or office supplies may need insurance to financially protect themselves from perils. 

 As a business owner, expenses can seem to come from everywhere, however, investing in commercial property insurance is well worth the cost as it provides financial security for your company.

About the Author

Jennifer Johansen

Jennifer is passionate about the Real Estate business, and has been involved in related family businesses in construction, architectural millwork, and finance for 20 years. She and her husband relocated to Naples, from New York, 10 years ago, although her family has owned property on Marco Island since the 1980's. She has a Bachelor's Degree in Psychology and a Dual Master's Degree in Counseling and Education. She has acquired many necessary skills that are useful in Real Estate from being in the field of Counseling for many years. She holds the belief that building rapport is vital to helping her clients have a positive experience, while achieving their goals. She is very thorough and detail oriented, and has formed many close relationships with professionals in related fields, such as law, title insurance, home inspectors and other contractors. She aims to offer concierge- level service to her clients at every price point. When time permits, she enjoys spending time with family and friends. Having grown up on the South Shore of Long Island, and enjoying her summers on Fire Island, she loves any activity related to salt water, boating and the beach. Additional hobbies include gardening, art, and studying nutrition, wellness and naturopathy. She is knowledgeable about Naples and Marco Island Real Estate, in estate areas, golf/gated communities, and waterfront properties. She is a member of The Naples Board of Realtors and Marco Island Area Association of Realtors.