Commercial Property Insurance

Insurance that is used to cover any type of commercial property. Commercial property insurance protects commercial property from such perils as fire, theft and natural disaster. This type of insurance is carried by a variety of businesses, including manufacturers, restaurants, retailers and service-oriented businesses.

The policy provides financial reimbursement to the owner or renter of a structure and its contents, in the event of damage or theft. If a claim is filed, the property insurance policy will either reimburse the policyholder for the actual value of the damage, or the replacement cost to remedy the damage.

Cover can be provided on named-risks basis or on all risk basis. Perils typically covered by property insurance include damage caused by fire, smoke, wind, hail, lightning, theft and more.