Century 21 Winklhofer
Century 21 Winklhofer
Eric Winklhofer, Century 21 WinklhoferPhone: (716) 207-9021
Email: [email protected]

Protect your business: A beginners guide to commercial property insurance

by Eric Winklhofer 05/17/2023

Commercial property insurance featured image with picture of storage space

Small and large businesses alike have much to handle every day however emergencies can arise, taking daily operation off course. This is why it’s important for companies to have commercial property insurance to protect the structure of their work base. 

What types of damages are covered under the commercial property insurance policy?

Commercial property coverage offers financial protection from: 

  • Theft.
  • Hail.
  • Wind.
  • Vandalism. 
  • Fire. 
  • Lightning strikes.
  • And more. 

Items insured include the building structure, work supplies, inventory and building attachments. For example, a fire may break out at a used tire shop, destroying inventory. The business owners can be financially compensated with replacement cost of supplies, and they can also receive lost income compensation. 

What is excluded from commercial property insurance?

Typically, auto accidents in company vehicles are covered by commercial auto insurance instead of commercial property insurance. Flood damage is not secured under standard commercial property insurance coverage, instead, a separate policy for flood coverage would need to be purchased to cover water damages. 

How much does commercial property insurance cost?

On average, commercial property insurance is about $800 a year. Business location, materials used for construction, industry type and more can affect policy cost. 

Who needs commercial property insurance?

Having commercial insurance is essential for company owners to protect their business. Business owners who have an office space, storage units, inventory or office supplies may need insurance to financially protect themselves from perils. 

 As a business owner, expenses can seem to come from everywhere, however, investing in commercial property insurance is well worth the cost as it provides financial security for your company.

About the Author

Eric Winklhofer

Being a second generation Real Estate Broker, Eric is a full time Broker/Owner of Century 21 Winklhofer. Growing up in the business Eric knows what it takes to help Buyers & Sellers complete their dream of home ownership. 

A Century 21 agent his entire career, Eric loves the fact that at Century 21 they promote and develop unique technology to help his clients! In today’s real estate market having a solid game plan, strategy & being creative is key to having a successful transaction. 

Eric is a Century 21 National & Local award winner for his sales achievements! Please feel free to call, e-mail, text or DM him on his social media and Eric will get in touch with you to help make your Real Estate experience a great one!