Do commercial property policies cover equipment that’s at other locations?
Commercial property policies normally confine coverage to just the insured premises. While a policy may insure equipment when it’s at the insured premises, the policy is unlikely to cover when that equipment is taken elsewhere.
Businesses that regularly transport or keep equipment elsewhere might want inland marine insurance, builders risk insurance, or other coverages along with a commercial property policy.
Can multiple properties be insured with one commercial property policy?
Many commercial property policies are able to insure multiple business locations, provided that the policy is set up to cover several properties. A knowledgeable insurance agent can help businesses select and set up a policy that’ll cover multiple locations.
How much does insuring a commercial building cost?
The premiums charged for insuring commercial buildings vary, as they’re based on numerous factors. A building’s size, location, proximity to a fire station, construction, security systems and value are just some of the details that impact cost.
The simplest way to find out how much a particular building will cost to insure is by talking with an independent insurance agent. An independent agent can compare policies from several insurers, which makes it easy to find out the market rates for insuring a specific building.