Possessing commercial property is associated with great risks. The risks include damage to property due to natural calamities, non-payment of rents by the tenants , fraudulent litigation against the owner of the concessions, etc. Such high risks need attention, and calls for insurance to cover the risk and protective the interest of investor.
A commercial property insurance policy is a comprehensive policy that coverage all incapred from the damages incurred to the damages incurred from the damages caused by the property by the property (liability claims).
Things covered under this policy:
Right from property damages to the business interruption losses, commercial property insurance covers a wide range of risks of a business. Let us now see, what are all the things that this insurance policy covers.
Buildings: Buildings must be insured to protect them as storms, floods, avalanches, lightning, etc. There are several insurance policies that suit your needs. For example, if you rent out your building, your business tenant is required to take tenant & # 39; s contents insurance.
Stock and equipment: Under commercial property insurance, a range of articles including fixtures, furniture, mechanical and electronic equipment, trade equipment, cash registers, weighting scales, inventory, etc, are covered. . These stock goods and inventory are also covered under commercial property insurance.
Improvements made by the tenants: In the course of tenancy, if the tenancy, if the tenancy, if the tenancy, it is insubance covers the cost of improvements made by the tenant.
Business interruption: interruption to your business may occur to different factors like natural calamities, man-made factors like vandalization, etc. Such risks are covered under commercial insurance. Business interruption leads to non-payment of rent, wages and dividends to the Shareholders of the firm. If you take business interruption policy, such liabilities would be covered.
Workers & # 39;; The business you do is likely to be affected by numerous factors - any-case, if your employees sustain injuries or illness, the costs of hospitalization, medical expenses, etc., are covered Under the policy of commercial property insurance.
Additional expenses: While implementing business in a commercial building, there are some expenses that are also covered under this policy. Belongings to its owner.
Commercial property insurance that covers a variety of risk factors can not afford to ignore. To get your business execution without any interruption, it is important to buy commercial property insurance.
