What is Property Insurance?
Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance or boiler insurance. These are usually a separate policy
A property insurance policy may cover the building you own as well as the contents within it and if you are the tenant of the building, it may cover tenant improvements. A property policy usually does not cover your tools or equipment while on the road, for this you would need an inland marine policy.
No matter what kind of business you have we can write a property insurance policy for it. This can be combined with general liability insurance or on its own policy. If you just own the building and you have tenants in it, this is called a lessors risk policy and it may include both the property coverage as well as the liability insurance; so it would cover most of the building and the liabilities that you would have as a building owner.
Do you have a Personal or Commercial Vacant Property? If you don’t have Vacant Property Insurance, you are open to both Property and Liability exposures. Most business insurance and home insurance carriers will exclude coverage when a building is vacant, so make sure your covered right away when this happens.
Every policy is different and every insurance carrier may add different coverage’s, your individual needs and situation will impact the type of policy you will get and the coverage that will be offered.