Commercial Property Insurance

Regardless of the type of business that you own and operate, it is crucial for you to keep your doors open so that your revenue continues to flow. However, if your business undergoes a negative event, having good commercial property insurance is vital to keep your business from failing. The Lyman Agency, LLC. has insurance agents who are able to talk about the best options for you so that you can find the best coverage to protect your business.

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What is commercial property insurance?

Commercial property insurance is a type of insurance that is available to pay you for the value of your business property, including your inventory, equipment, buildings, and our customers’ personal property if they are damaged or lost because of a number of different causes.

Is it mandatory to have commercial property insurance?

It is not mandatory for you to have commercial property insurance, however, most lenders will require you to get it before they will agree to lend you funds. If you do not have commercial property insurance, you will also be responsible for replacing what your business has lost. If you do not have commercial property insurance, you are at risk for the following problems:

  • Bankruptcy and closure
  • Reputational damage
  • Legal problems
  • Inventory spoilage

What is covered by commercial property insurance?

Commercial property insurance covers the physical components of your business, which will vary from company to company. Some policies may reimburse you for the replacement value while others will reimburse you for the actual cash value. The types of coverage will depend on your location and may include the following:

  • Theft
  • Fire
  • Wind
  • Tornado
  • Hail
  • Flood
  • Hurricane
  • Earthquake

There are many options that are available, allowing you to pick the coverage that you need.

The cost of commercial property insurance

The cost of commercial property insurance will depend on the coverage that you choose and the size and location of your company. Small companies that are located in areas that are less prone to natural disasters will be cheaper to insure.

Why choose The Lyman Agency, Inc?

When you work closely with your insurance agent to choose the commercial property coverage that is best suited for your needs, you may have better protection at an affordable price. To learn more about how The Lyman Agency, LLC. can help you, fill out our contact form today.

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Be Sure With Lyman Insure

At Lyman, we understand that your business is unique. You want an insurance agency that is familiar with the business to ensure you have the complete coverage you need.

Lyman Insure™ has the experience that business owners need to protect all aspects of their business. At The Lyman Agency, LLC., we recognize that it is the relationships we establish with our clients that set us apart. Please contact us for a free quote or insurance evaluation. You can be sure with Lyman Insure.

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