If you’re just starting your business or are in the planning stages, you may be aware of the fact that you need business owners insurance. When most people think about business owners insurance they picture a policy that covers the business in case a third party sues the company based a multitude of reasons. While that type of insurance policy is a great foundation, you may very well need addition types of business owners insurance as well. For example, you may greatly benefit from a commercial property insurance policy. In essence, a commercial property insurance policy provides much needed coverage for business owners.

This holds particularly true for business owners who are operating a home-based business. This is due to the fact that it provides additional coverage above and beyond the homeowner’s insurance policy. It actually helps protect both your business and your physical assets as well. Commercial property insurance covers the replacement costs if your property and or your business becomes damaged or even destroyed from such things as fire or theft, along with other covered losses.

Commercial property insurance goes a long way in protecting your building, including your home if you operate a home-based business, equipment, inventory, furniture, personal property, and tools to name a few. So what exactly how can commercial property insurance help your business? If a fire destroys your computers, the policy will pay to replace them. If a criminal breaks into your business and steals your inventory, the policy will cover the theft. A commercial property insurance policy can also go a long way in protecting your business assets such as your business income.

For example, if you can’t open your store because of a fire it will replace the lost income for the time period that your business is closed. You can also add additional coverage to cover costs such as temporary storage, or the reproduction of important documents. That being stated, there are a few incidents that your commercial property insurance policy will not cover. You need to be aware of them. For example, your policy will not cover damages if you or one of your employees happens to get into an accident while making a delivery to a customer and the vehicle is damaged.

Your policy will not cover the expenses if you or one of your employees intentionally damages the property. In addition, you won’t be covered if the property floods from heavy rainfall or snowmelt runoff or for any other reason why it floods. Last but certainly not least, your commercial property insurance will not cover damages if one of your customers or clients drops and breaks their smartphone at your place of business because they tripped over something. The good news is that there are other business owner’s insurance policies that cove those things.

If you are a business owner in the Commonwealth of Massachusetts you need to ensure that you have the proper business insurance policies in place. Please consult with a professional insurance agent that can answer your questions about all insurance related topics. It is important to fully understand exactly what you are buying when it comes to insurance policies. If you have any questions, please call (508) 831-0133 to contact an associate at Zawada Insurance. We are happy to walk you through the details of your insurance policies and explain your coverage options.

We look forward to helping you with all of your personal and or business related insurance needs now and in the future.