Commercial Property Insurance in Denver, CO

Commercial property insurance may help a business recover from unexpected incidents that result in property damage. Without commercial property insurance, a single event (e.g., a fire) could leave it with significant financial losses and put it at risk of bankruptcy or closure.

What Does Commercial Property Insurance Typically Cover?

While specific coverage may vary depending on the policy and insurer, commercial property insurance typically covers the following business-related assets:

• Physical building or workspace
• Equipment and tools
• Furniture
• Fixtures
• Inventory
• Electronics

Commercial property insurance typically covers the following types of incidents:

• Fire
• Most explosions
• Hail
• Smoke
• Automatic sprinkler leakage
• Sinkhole collapse
• Theft
• Vandalism

How Are Premiums Determined?

There are several factors that insurance providers use to determine the cost of commercial property insurance premiums. Some of these considerations include the following:

• Location—Is the area at risk for weather-related events and natural disasters?
• Structural features—How old are the building’s features, such as the electrical wiring, plumbing and HVAC systems?
• Type of business—What type of industry is the business in? Some businesses have more potential risks than others.
• Fire and theft protection—How far away is the nearest hydrant and fire station? Does the business have a fire alarm, sprinkler system and security system?

Does a Business Need Commercial Property Insurance if It Leases Business Space?

Whether the building a company operates in is owned or rented, adequate commercial property insurance is essential. If a business rents a commercial space, the physical structure of the building will most likely be covered under the owner’s insurance, but the property inside will not be covered. If there is a theft or fire, any electronics, furniture, inventory and tools would not be covered unless there is an insurance policy for financial protection.

Commercial property insurance is also essential for businesses that utilize high-value assets, such as expensive equipment, inventory or specialized machinery. These businesses may face a higher risk of financial losses if their property is damaged or destroyed by a covered cause of loss, making it even more important to have adequate coverage.

Commercial Property Insurance Quote in Denver

Contact JJ Insurance to discuss coverage options and receive a quote. We can help ensure your business has adequate coverage to protect your company’s finances and future. We have decades of experience helping businesses and individuals in Denver and surrounding communities to protect what matters most.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.