Property Insurance provides coverage for a wide range of incidents and events such as fire, theft, burst pipes, earthquake, and flood.
Property Insurance can also include loss of computers, loss of machinery, debris removal, off-premises property, increased cost of construction, and more.
Property Insurance can be written on a stand-alone basis or as part of a Commercial Package policy to include the Commercial General Liability coverage.
For what amount should you insure your property? Replacement cost is the preferred method, and is the cost of a damaged or destroyed property with no deduction for depreciation.
Replaces lost income you would have earned to pay your bills and employees while your property is being rebuilt after an insured loss such as a fire.