Commercial property insurance helps protect your owned or rented building, equipment, tools and inventory used to operate. It's also known as commecial building insurance.
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“What is commercial property insurance?” We hear this question a lot from small business owners wanting to know if they need to have it. If your business owns or rents any property or you work out of your home, you’ll need commercial property insurance to protect your building and the contents inside of it.
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Commercial building insurance, also called commercial property insurance, helps protect your business’ owned or rented building, plus the tools and equipment inside. It can also cover your lost income if you must close temporarily due to a covered loss.
It’s a good idea to have commercial property insurance if you’re a home-based business owner too. A typical homeowner’s insurance policy won’t cover your business property and physical assets.
Your owned or rented building that you use for business is protected from covered losses like fire, burglary and accidents.
Your owned or rented equipment, like computers or machinery, used to operate your business are covered.
If your company keeps tools and equipment inside your owned or rented property, commercial property insurance can help repair or replace them if they’re damaged or stolen because of a covered loss.
If you store inventory at your commercial property or home office, this type of insurance can help replace it if it’s damaged or stolen from a covered loss.
Commercial property insurance covers your company’s furniture. If it’s damaged or destroyed in a fire or other covered accident, your insurance can help repair or replace it.
Business property insurance helps protect your personal property, like cars and computers, if they’re located in your business when a covered loss occurs.
Commercial property insurance also includes business income insurance coverage, which can help replace lost income if your business can’t operate because of covered property damage.
There’s different types of commercial property insurance available to business owners if you need to expand your coverage. Our specialists can help you find customized coverage to meet your business’ unique needs.
It’s important to keep in mind that commercial property insurance doesn’t cover every type of property damage that might come up unexpectedly. This type of insurance doesn’t cover the following events:
You can get other types of business insurance to protect your business from these types of unexpected claims. Get a quote for business insurance today and find out how you can fully protect your business from risk.
If your business owns, rents or leases a physical location or you operate out of your home, you’ll need commercial property insurance. In addition, if your business owns important equipment, tools or inventory that is stored at your business’s physical location, commercial property is the best way to protect your physical assets from property damage.
A commercial property insurance protects your owned or leased business property and equipment against covered losses like property damage, theft or burglary.
Buildings or spaces that your business owns, rents or leases are examples of commercial property. In addition, the tools, equipment, inventory, furniture and personal property you use to operate your business are considered commercial property.
Yes, if your business temporarily rents a building or physical location, you can get coverage through a commercial property insurance policy.
If you have a home-based business, you will likely need more coverage than just your homeowner’s insurance policy. A typical homeowner’s insurance policy doesn’t protect your business’ technology, equipment, files or inventory. Your home policy also won’t protect your business property if it’s stored in a different location. Commercial property insurance, also known as commercial building insurance, will ensure you have enough coverage for your company’s physical assets.
If you change locations or expand your business, you’ll need to notify your insurer to make sure you’re fully covered. If you need to make updates to your policy or questions about commercial property insurance, call one of our specialists at 800-327-3638.
Building insurance is another term for commercial property insurance, but it’s the same coverage. Like commercial property insurance, building insurance helps protect your business’ owned or leased building, equipment, tools, inventory, furniture and personal property.
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1 Premium amounts presented are based on monthly premium paid by The Hartford's Small Business customers between 6/1/23 and 6/1/24 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.
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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.
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