The place you do business says a lot about your success. Maybe your wholesale company acquired a second warehouse. Perhaps your ad agency just moved to a stylish new office space. Or you might have added extra stations at your beauty salon.
Whatever purpose your commercial property serves, you need to protect it from the unexpected. As a small business owner, too, a Farmers® agent understands your challenges — and can help you understand your coverage options so you can select the coverage you want.
Business Property Insurance Coverage Options:
Here are some of the property risks business owners face:
Property damage
Risk:
While operating a forklift in your warehouse, an employee collides with a storage rack and it collapses.
Coverage:
Business property coverage can help when your business personal property is damaged by a covered event.
Damaged inventory
Risk:
When that storage rack collapses, it destroys inventory worth several thousand dollars.
Coverage:
Business personal property insurance can help you repair or replace covered business items, such as computers, tools and inventory.
Loss of income
Risk:
You lose business income when you must temporarily close your company for repairs from a small electrical fire.
Coverage:
Business income insurance can help replace lost profit up to policy limits. This may provide you with operating and payroll expenses that keep your company running.
The rebuild of Rahr & Sons took about seven months before we were back up and running. In the meantime, our insurance paid our staff, got the rebuild rolling, and allowed us time to heal, regroup and reorganize.
A Freak Snowstorm Helped This Family Business GrowThe roof of Erin Rahr’s Texas-based family business collapsed in a record-breaking snowstorm. Read the article
Additional Business Insurance Coverage Options
Commercial property insurance coverage is just one component in a full menu of business insurance options available from Farmers. Your agent can also discuss coverage options for other possible risks like:
Risk:
Coverage:
When repairing fire damage to your building, you can face increased costs to comply with recently enacted building codes.
Building ordinance coverage can help with the additional cost of meeting new building laws or ordinances when you rebuild or restore your structure after a covered loss.
A customer is hurt when she trips and falls while walking between your showroom and your office. In addition to immediate medical care, she needs post-injury therapy.
Business liability insurance can help with medical and legal costs if you’re legally liable for a customer’s injury on your company’s property.
While making deliveries in a company van, your employee causes a collision injuring the leadership team of a technology start-up. The limits of your commercial auto policy won’t cover their salaries while they recuperate.
Business umbrella coverage can help by adding an extra layer of liability coverage. It begins when the limits of an underlying liability policy are reached, and can be purchased in $1 million increments up to $10 million.
An expensive laptop computer is stolen from the manager’s office at your boutique hotel.
Business crime coverage can help you replace property that’s stolen by an employee or outsider.
Risk:
When repairing fire damage to your building, you can face increased costs to comply with recently enacted building codes.
Coverage:
Building ordinance coverage can help with the additional cost of meeting new building laws or ordinances when you rebuild or restore your structure after a covered loss.
Risk:
A customer is hurt when she trips and falls while walking between your showroom and your office. In addition to immediate medical care, she needs post-injury therapy.
Coverage:
Business liability insurance can help with medical and legal costs if you’re legally liable for a customer’s injury on your company’s property.
Risk:
While making deliveries in a company van, your employee causes a collision injuring the leadership team of a technology start-up. The limits of your commercial auto policy won’t cover their salaries while they recuperate.
Coverage:
Business umbrella coverage can help by adding an extra layer of liability coverage. It begins when the limits of an underlying liability policy are reached, and can be purchased in $1 million increments up to $10 million.
Risk:
An expensive laptop computer is stolen from the manager’s office at your boutique hotel.
Coverage:
Business crime coverage can help you replace property that’s stolen by an employee or outsider.
Farmers works to build strong customer relationships
Farmers has spent 90 years putting customers first. Are you shopping for coverage, or do you have a question about your policy? Maybe you’re ready for a commercial property insurance quote. Be sure to let a Farmers agent deliver personalized service and support.
You’ll experience a similar level of care from our knowledgeable claims representatives, who will provide assistance as quickly as possible.
To learn more about what Farmers can do for your business, call an agent today.
Customizable options, personalized advice.
Talk to a Farmers® agent about property coverage for your business.