What Is Commercial Property Insurance?

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.
Author:
Chloe Silverman
Chloe Silverman,Staff Copywriter
Chloe Silverman
Staff copywriter specializing in small business insurance for The Hartford.
Reviewed By:
Gene Marks
Gene Marks,CPA, Keynote Speaker, National Business Columnist and Author
Gene Marks
CPA, keynote speaker, national business columnist and author.
LinkedIn Profile
Actualizado: 08/23/2024
Read Time: 3 minutes
small business owner feeling secure knowing What Is Commercial Property Insurance
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Key Takeaways

  • The average cost of commercial property insurance is $140 a month, or about $1,670 annually, from The Hartford.1
  • Offers more protection than a homeowner's insurance policy. Commercial property insurance provides more comprehensive protection for people with a home-based business.
  • Commercial property insurance also includes business interruption insurance, which can help replace lost income if you can't operate your business because of a covered loss.

Get Commercial Property Insurance

“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.
small business owners learning What Is Commercial Building Insurance

What Is Commercial Building Insurance?

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.

What Does Commercial Property Insurance Cover?

Commercial property insurance helps protect your company’s physical assets, such as your:

Building

Your owned or rented building that you use for business is protected from covered losses like fire, burglary and accidents.

Equipos

Your owned or rented equipment, like computers or machinery, used to operate your business are covered.

Tools

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.

Inventario

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.

Muebles

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.

Propiedad personal

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.
 

What Is Not Covered by Commercial Property Insurance?

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 or your employees intentionally damage property
  • Your customer drops their laptop when they trip over a box in your office
  • You get into an accident while making a delivery to a customer and damage your vehicle
  • A nearby brook overflows after a heavy rainfall, causing flooding near your building that damages your inventory
  • One of your employees puts a hole in your client’s wall
You can get other types of business insurance to protect your business from these types of unexpected claims. Reciba una cotización for business insurance today and find out how you can fully protect your business from risk.
 

Who Needs Commercial Property Insurance?

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.

Common Questions About Commercial Property Insurance

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.
 
Divulgaciones adicionales a continuación.
The Hartford no será responsable de ningún daño relacionado con el uso de la información proporcionada en esta página. Consulte con su agente/corredor de seguros o compañía de seguros para determinar las necesidades específicas de cobertura, ya que el contenido publicado aquí se ofrece con fines informativos solamente.
 
La información contenida en esta página no debe interpretarse como asesoramiento legal, de Recursos Humanos, financiero o de seguros específico, y no es una garantía de cobertura. En el caso de una pérdida o reclamación, las determinaciones de cobertura estarán sujetas al lenguaje de la póliza, y cualquier pago de reclamación posible se determinará luego de que se investigue la reclamación.
 
Ciertas coberturas varían según el estado y es posible que no estén disponibles para todas las empresas. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. listed in the Aviso legal.
 
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, CT. For additional details, please read The Hartford’s Legal Notice.
 
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