Business property protection built around your needs
Business property insurance helps protect the physical assets your company relies on by covering eligible repair or replacement costs if they are damaged or destroyed by an insured event, such as a fire. Having the right amount of coverage is essential, especially in the event of a total loss, so your business can recover and rebuild with confidence.
Safeguard the assets that keep you running
Understanding business property coverage
The right coverage can make a meaningful difference after a major loss, helping your business repair, replace, and recover with fewer disruptions. These core coverages are designed to help protect the property, equipment, and assets your operations depend on.
Business property
Helps cover company-owned assets such as buildings, fixtures, inventory, tools, and equipment. If these items are damaged or destroyed by an insured event, such as a fire, your policy can help pay for eligible repair or replacement costs.
Individual floaters
Provides targeted protection for specialty equipment by insuring specific items based on their value, purpose, and use.
Reimburse or replace
Select coverage based on actual cash value (ACV) or replacement cost (RC). ACV reflects the current value of your business assets, typically factoring in depreciation. RC helps replace covered assets with new items of the same or similar kind and quality, without a depreciation deduction, up to the limit shown on your policy declarations.
Optional coverage enhancements
Extra protection when your business needs it
For businesses that need added protection or operate in areas with elevated risk, optional coverages can help strengthen your insurance program.
Covers eligible repair or replacement costs when essential equipment breaks down due to a covered event.
Protects your business against eligible losses resulting from criminal acts, including theft, robbery, fraud, and employee dishonesty.
Addresses additional costs required to bring a damaged building up to current codes or bylaws during the repair or rebuilding process after an insured claim.
Extends protection to eligible damage or loss caused by earthquakes and related earth movement.
Responds to eligible damage or loss caused by sewer backup incidents.
Supports recovery from eligible damage or loss caused by overland water events, such as the overflow of a river or lake, heavy rainfall, or rapid snowmelt.
Expert guidance for business property protection
Expert support for business continuity and recovery
Protecting your business property should not add complexity to your day-to-day operations. Our team is here to help you secure coverage that supports your business, so you can stay focused on what matters most.
Informed recommendations
Our team provides knowledgeable, personalized insurance guidance backed by practical experience and a clear understanding of business risk.
Local market knowledge
Our business property insurance specialists understand the needs of local companies and can provide insight tailored to your industry, location, and operations.
Dedicated claims advocacy
If a loss occurs, our in-house claims team can help coordinate the process, support documentation, assist with negotiations, and advocate for a fair and timely resolution.
Commercial property insurance tips from our experts
Protecting your business property starts with a clear understanding of your assets, exposures, and recovery needs. Our commercial insurance specialists can help you evaluate your coverage limits, identify optional enhancements, and build a property insurance program that supports continuity after an insured loss.
Industry‑specific coverage options
Our advisors leverage cross‑industry expertise to deliver tailored insurance solutions that go beyond generic coverage.
FAQs about business property insurance
If your business owns, leases, or relies on physical assets, business property insurance is an important layer of protection. It may also be required in situations such as:
• Your business operates from a commercial building
• You lease or own dedicated commercial space
• Your buildings, equipment, or inventory are financed
This coverage can help your business recover after property damage or loss by supporting financial stability and reducing disruption. It may also help strengthen credibility with clients, landlords, lenders, and other stakeholders. If you run your business from home, keep in mind that personal home insurance typically does not cover property used for business purposes.
Business property insurance may respond to a range of insured events, depending on the terms, conditions, and limits of your policy. Common examples include:
• Fire
• Explosion
• Smoke
• Wind
• Hail
• Lightning
• Falling object
• Theft
• Vandalism
Events such as earthquakes, sewer backup, and overland water may be available as optional coverage enhancements.
Business property insurance generally does not cover wear and tear, intentional damage, unexplained losses, cash, or securities. Certain risks may also be excluded unless additional coverage is purchased, such as earthquake, overland water, or sewer backup protection.
It is also important to note that business property insurance is designed to cover damage or loss to insured property. It does not replace commercial liability insurance or commercial auto insurance. Because every policy is different, our commercial insurance advisors can help you understand what is included, what is excluded, and where additional protection may be needed.
Your coverage limit should reflect the cost to repair, replace, or rebuild the assets your business depends on after a major loss. This may include equipment, inventory, furniture, leasehold improvements, property belonging to others in your care, or the cost to rebuild your building if you own it. The right amount will depend on your operations, assets, and risk profile, and our business insurance advisors can help you assess an appropriate limit.
Premiums vary based on your business, property, coverage needs, and exposure to risk. Factors that can influence cost include:
• Your business location and surrounding risk factors
• Whether insured property is fixed in place or mobile
• The age and overall condition of the property
• The materials used in construction
• Plumbing, electrical, and heating system details
• The total value of the property and assets being insured
• Your industry, operations, and business activities
• Installed risk controls, such as security cameras, sump pumps, fire suppression systems, and water alarms
• Selected coverage options, deductibles, and policy limits
• Your prior insurance and claims history
