Property Insurance Coverage

Commercial property insurance protects physical assets like buildings, furniture, equipment, and inventory from damage or loss caused by fire, theft, vandalism, or natural disasters. It may also include coverage for lost income due to property damage. This insurance ensures that your business can recover quickly, minimizing downtime and financial losses. Wright Risk tailors policies to meet your business’s specific needs for robust asset protection.

While it’s not legally mandated, many landlords and lenders require commercial property insurance as part of lease or loan agreements. Even if it’s not required, it’s a vital safeguard to protect your business assets. Without coverage, you could face significant financial losses in the event of damage. Wright Risk ensures your policy meets any contractual requirements while providing the peace of mind to operate confidently.

Premiums are based on factors like the location, age, and condition of your property, as well as the type of business you operate. High-risk areas or industries may result in higher premiums. Wright Risk works with you to balance affordability and protection by tailoring coverage to your business’s specific risks, ensuring you get the most value from your investment.

Commercial property insurance typically covers buildings, machinery, inventory, furniture, and fixtures. Some policies may also extend to outdoor signage, landscaping, or valuable documents. Wright Risk helps you identify all physical assets critical to your business operations and includes them in your coverage, so you’re fully protected against unexpected damage or loss.

Commercial property insurance doesn’t cover employee injuries, liability claims, or professional errors. It also typically excludes damage caused by floods or earthquakes unless added as endorsements. We help you understand these gaps and recommend additional policies, such as general liability or flood insurance, to create a comprehensive protection plan for your business.

Yes, bundling commercial property insurance with general liability or a business owner’s policy (BOP) can simplify management and reduce costs. Wright Risk creates customized bundles that provide all the coverage you need in one convenient plan, ensuring your business is protected from multiple risks while staying budget-friendly.

To file a claim, report the incident promptly to our team and provide necessary documentation, like photos or inventory lists. We’ll guide you through the process, liaising with insurers to ensure your claim is resolved quickly and accurately. Our support minimizes downtime and ensures your business gets back on track efficiently.