Owning a business is a huge achievement, and having a commercial property is even better! You have a dedicated space for your company and all the equipment you need.

But if something goes wrong, if you don’t have insurance, you’ll have to pay for repairs. If your business owns any commercial real estate or business properties, it’s imperative that you have commercial property insurance.

Commercial property insurance provides coverage for buildings, inventory, equipment, tools, and more. You’ll be covered from fires, vandalism, and natural disasters so you can do what you do best – run your company.

Find great rates on commercial property insurance 

Having commercial property insurance can help you rest easy knowing that your assets are covered in an emergency. Finding the right coverage, though, can feel impossible. Cross Insurance Agency is here to help – as an independent agency, we go through your options for you, so you know you’re getting the best coverage at the best price.

Other insurance agencies all claim to have the best coverage at the lowest rates, but you’ll never know for sure unless you get a quote from each of them. That means you’ll spend valuable time calling carriers, confirming coverage options, and wading through legal jargon when you could have been running your business.

Let Cross Insurance’s licensed insurance agents help you through the process. Our goal is to take the surprise out of insurance, and we make even the trickiest topics easy to understand. Plus, since we have years of insurance experience, you can be sure that we know how to tackle any commercial property insurance concerns you have!

If you need something other than commercial property insurance, check out what we offer:

• general liability insurance
• business owners’ policies
• business insurance

Coverage included in commercial property insurance

A standard commercial property policy covers pretty much everything concerning your property. Here’s what things are covered under a standard commercial property policy:

Commercial Building

This coverage covers your building and its infrastructure from disasters like natural disasters, theft, or vandalism. This should also cover any outdoor equipment, signs, or structures you own that sit within 100 feet of your building (but you should always check with your Cross agent to make sure they’re included).

Business Personal Property

This coverage covers your inventory, office equipment, and fixtures. So don’t worry about your computer or fancy office chairs – they’re covered!

Now that you know what’s covered, you can pick what type of coverage you want: replacement cost or actual cash value coverage.

Need more coverage? Check out our additional coverage options below!

Coverage included in commercial property insurance

A standard commercial property policy covers pretty much everything concerning your property. Here’s what things are covered under a standard commercial property policy:

Replacement cost

will replace your items with similar items without deducting for depreciation.

Actual Cash Value

estimates the value of your items according to depreciation or its fair market value.

Need more coverage? Check out our additional coverage options below!

Additional coverage options

Flood

This coverage isn’t usually included in a commercial property policy, but you’ll need this coverage if you live in an area prone to floods.

Business Income

This coverage reimburses the owner for loss of profits when their business is closed for a covered loss. For example, if your business is shut down temporarily after a fire, you’ll be covered for the loss of profits.

Additional Coverage

You can also add multiple separate policies like commercial auto insurance or general liability insurance. depending on what your business owns, how your business operates, and what you want covered.

Frequently Asked Questions about Commercial Property Insurance

Is commercial property insurance required?

No, it’s not required, but it’s highly recommended. That way if you run into trouble, you know your assets are covered. Get a quote from Cross Insurance Agency today to see how beneficial commercial property insurance is for your business.

However, we will say that if you run a home business, you likely wouldn’t need commercial property insurance because your house is covered under your homeowners policy. Don’t have home insurance? Say no more – Cross Insurance Agency has got you covered with all the answers you need about home insurance

Why should I get commercial property insurance?

Nobody likes to think of worst-case scenarios, but when your livelihood is on the line, you need to think about what would happen in an emergency. If your building went up in flames, could you recover financially? What if your company equipment was stolen?

Commercial property insurance protects the assets that you’ve worked hard to earn. Don’t let a natural disaster or theft ruin you financially – get commercial property insurance to protect your possessions!

What does commercial property insurance NOT cover?

No insurance policy can cover everything, and a commercial property policy is no exception.

A standard policy will not cover:

• Earthquake or flood damage
• Intentional damage from an employee
• Medical bills
• Damage to a client’s property
• Auto accidents or damages to company vehicles

How much does commercial property insurance cost?

It depends on your risk,which is influenced by multiple factors including:

• Your location
• Your building’s construction
• Your business’ size
• The type of business you run
• Security/protection measures (security systems, sprinkler system, etc.)

Get a quote to see how affordable commercial property insurance can be!

Why should I choose Cross Insurance Agency to help me find commercial property insurance?

Many insurance companies offer commercial property insurance, so it’s hard to pick which one you should trust to help you with your insurance needs.

Cross Insurance Agency always strives to be:

• Personable
• Helpful
• Informative
• Friendly
• Caring
• Encouraging
• Easy-To-Understand

We help take the surprise out of insurance by building trust and offering value. We also offer many other insurance options for other business coverage.

For more information,contact us or check out our About Us page to learn more about Cross Insurance Agency

If I wanted to add extra coverage, what would that process look like?

Adding extra coverage couldn’t be easier – just contact us, and we can get you the coverage you need.

One recommendation for extra coverage would be a Business Owner’s Policy (BOP). It combines commercial property insurance with general liability and business income insurance. (By getting all three in one policy, you can get a discounted premium!)

What do I need to purchase commercial property insurance?

First things first, you’ll need to know your current insurance carrier and any gaps in your coverage.

Your Cross Insurance agent will also need to know:

• The type of business you run
• Your business’ size
• Your business’ construction
• The physical assets on your property you’d like covered (it helps to prepare a list ahead of time)

If you have questions about commercial property insurance or Cross Insurance Agency, you can contact us via a phone call, text, or email. You can also use our booking website to schedule a visit if you need to see someone right away.

Or, if you just need to manage your policy, you can use our client self-service portal or our mobile app. We’re here for you whenever you need!