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Commercial Property Insurance

 Comprehensive Insurance Solutions for Your Commercial Properties

Save-On Insurance Commercial Property

If you own or operate a commercial real estate building in the Los Angeles area (or, really, anywhere within the state of California), you need to ensure you have property coverage protecting their value. Having the right commercial real estate insurance such as such as Apartment buildings, Office Buildings, Medical Buildings, Shopping centers and retail stores is important to have in place in the event anything should happen to the property such as fire damage, theft or vandalism, or any loss that may occur through accident.

There are various types of business insurance available on the market, but one of the most important insurance options to obtain is commercial property insurance to protect your building structure and its contents. This insurance policy covers your commercial building from any loss that could arise due to damages caused as a result of fire, vandalism during a break-in, or any other damage caused by natural or man-made disasters.

Although a basic commercial property policy will be plenty for many business owners, Save-on Insurance can help you take a closer look at all of your assets and compare your needs to the offerings available in the market. As an independent insurance agency, Save-On Insurance Services has access to many “Top Rated” Insurance Companies and their policy offerings to find the best fit for you and your business.

For more information about the various insurance options available for your business,
contact Save-On Insurance today
.

What is the Cost of Not Having Proper Commercial Real Estate Property Insurance in Place?

Not having your commercial building insured can spell financial disaster for any business. Business owners that have inadequate coverage on their commercial properties can find themselves having to pay huge amounts to cover repairs to building structures, utilities or mechanical assets in the event of damage. Save-on Insurance assures commercial property owners have access to the lowest available market rates for commercial real estate property insurance and can put their minds at ease with the knowledge their business property is securely insured.


 

What Does Commercial Property Insurance Typically Cover for a Business Owner?

Structures

Any commercial business structure is at jeopardy of loss if damaged due to natural or man-made disasters. So, making sure you have enough coverage in place to replace damaged structural components is important. We recommend having commercial property insurance renewal policies updated every 2-5 years, or immediately following renovations and additions to the property to ensure you are properly covered in comparison to recent market values. Ultimately you want to make sure you have current replacement costs covered in your policy.

Flood Insurance

The majority of commercial property insurance policies in California exclude flood damage as standard covered cause for loss. In these cases, a separate policy would need to be written into your package to ensure you’re covered from such damages. Save-On Insurance Services can review your current policy to see if this is a missing coverage for your business, and help you determine if this is an acceptable risk for your particular business.

Electronic Data Processing Equipment (or EDP Insurance)

EDP insurance is a specific coverage relating to the protection of business computer equipment. Most of the commercial property policies written today will include very limited coverage for these items. EDP coverage will broaden the scope of causes of reported losses to circumstances such as power surges. Some EDP policies will even cover limited cases of virus attacks.

Property Contents

A business’ personal property insurance will cover items such as business furniture, fixtures, business equipment and even inventory at a specified property location. If you’re a business that frequently transports your business equipment offsite or to other satellite locations it’s important to note that many insurance companies offer limited coverage in those circumstances. In these cases, an additional ‘inland marine’ policy may be prudent. An inland marine policy is basically an equipment or installation floater.  A detailed review of your business practices and needs will help Save-On Insurance identify any holes in your current policy and make sure you’re better protected.

Business Interruption Coverage

Many times viewed as an optional coverage by insurance companies, this type of policy covers the business owner if they face a loss of income due to closure during a period of time while a property is undergoing repairs or restoration because of damages. Sometimes referred to as Business Income Insurance, this policy may also cover a financial loss occurring because of property access limitations due to civil authority restrictions on a neighborhood following a disaster.

Call today to find out more information about your Commercial Insurance coverage options now. 310-474-7283

We will provide you with a free quotes obtained from several different insurance companies so you can compare the rates and see how much you could save with Save-On Insurance.

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