Top Commercial Property Insurance Tips

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Commercial Insurance Tips From The Hartford

commercial property insurance If you own commercial property, you’ll want insurance to help protect it. Commercial property insurance can help cover your building and your business if there are fires, burglaries, natural disasters or other covered losses at your property. Commercial property coverage helps protect your:
For example, let’s say a fire damages your building and furniture and forces you to close during repairs. Commercial property insurance can help recover your lost business income while it’s closed. It can also help cover your costs to fix or replace the damaged furniture.
We know how important your business and livelihood are, and we work hard to help protect them. We’re here to walk you through all your commercial property insurance options.

Top Business Insurance Tips

We want to help you make the right choice in commercial business insurance. That’s why we offer these five business insurance tips for small business owners:
Be sure to compare multiple policies and quotes because you may find a better insurance package if you shop around. There are pros and cons to different insurance companies, so make sure you check their reviews and ratings. You should also look at the price and specific commercial property insurance coverages for each policy you compare.
Always know your terminology to help you better understand “insurance speak.” Get familiar with this list of insurance terms and definitions:
  • Premium is another name for cost.
  • Deductible is the amount you have to pay before your coverage takes effect.
  • Covered loss is an incident or event that your insurance policy covers, like a fire, theft or natural disaster.
You can learn more about insurance terms like these at Investopedia.1
Commercial insurance tips Look for unexpected costs by reviewing your policy in detail. If you don’t, you could end up with a high-deductible business insurance policy. This means your insurance company won’t start paying until you spend a significant amount of out-of-pocket money.
For example, let’s say a fire severely damages one of your warehouses. Your commercial property insurance policy covers up to $2 million in repairs, but has a $200,000 deductible. This means you have to cover the first $200,000 of repairs before your insurance will pay the rest.
Deductibles are standard across insurance policies, but amounts vary by company and state. If you have questions about costs, deductibles or business insurance in your state, contact one of our specialists.
Understand tax implications, because insurance is tax deductible. This can save you a significant amount of money and means you should consider your insurance costs a write-off.
Consider an insurance bundle to save even more money. Companies offer many insurance protections, such as flood insurance, tornado insurance and liability coverage. Bundling these coverages can help you save money and better protect your commercial property.
For example, our Business Owner’s Policy (BOP) bundles three coverages into one:
  • Commercial property insurance
  • General liability insurance
  • Business income insurance

Get More Business Insurance Tips From The Hartford

We’re backed by more than 200 years of experience and can help you make informed decisions for your business. We know small businesses have unique needs, which is why we created a small business insurance team 30 years ago.
Get a quote today or call our team at 855-829-1683 to learn more about commercial property insurance.
1 This link is provided for informational purposes only. The inclusion of this link does not imply an endorsement or association.
The Hartford shall not be liable for any damages in connection with the use of any information provided on this page. Please consult with your insurance agent/broker or insurance company to determine specific coverage needs as this information is intended to be educational in nature.
The information contained on this page should not be construed as specific legal, HR, financial, or insurance advice and is not a guarantee of coverage. In the event of a loss or claim, coverage determinations will be subject to the policy language, and any potential claim payment will be determined following a claim investigation.
Certain coverages vary by state and may not be available to all businesses. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. In TX, this insurance is written by Sentinel Insurance Company, Ltd., Hartford Casualty Insurance Company, Hartford Lloyd’s Insurance Company, Property and Casualty Insurance Company of Hartford, Hartford Underwriters Insurance Company, Twin City Fire Insurance Company, Hartford Accident and Indemnity Company and Hartford Fire Insurance Company. In Arizona, New Hampshire, Washington and California, the insurance is underwritten by Hartford Accident and Indemnity Company, Hartford Casualty Insurance Company, Hartford Fire Insurance Company, Hartford Insurance Company of Illinois, Hartford Insurance Company of the Midwest, Hartford Lloyd’s Insurance Company, Hartford Underwriters Insurance Company, Maxum Casualty Insurance Company, Maxum Indemnity Company, Navigators Insurance Company, Navigators Specialty Insurance Company, Pacific Insurance Company, Property and Casualty Insurance Company of Hartford, Sentinel Insurance Company, Ltd., Trumbull Insurance Company and Twin City Fire Insurance Company. The Hartford® is The Hartford Financial Services Group, Inc. and its subsidiaries, including Hartford Fire Insurance Company.
The Hartford® is The Hartford Financial Services Group, Inc. and its property and casualty subsidiaries, including Hartford Fire Insurance Company. Its headquarters is in Hartford, CT.
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