The purpose of property insurance is to provide critical financial assistance in the event of a covered loss so that your business can continue to operate with minimal disruption to your daily operations or recover from a devastating loss.
A typical Pennsylvania Commercial Property Insurance policy could include such coverage as:
- Your building
- Your building contents, also known as business personal property, which includes furniture and office equipment
- Your inventory of products to be sold
- Outdoor signs attached to the building
- Property of others that is in your care, custody and control that you are legally liable for.
Other coverages you should consider purchasing, contingent to your specific needs:
- Business Income and Extra Expense coverage, also known as Business Interruption Insurance– this covers your loss of income and extra expenses that may be the result from a covered loss such as a fire.
- Burglary and Robbery coverage – coverage for your property or the property of your customers, which is inside your described premises, that is unlawfully taken with forcible entry or exit of your premises.
- Employee Dishonesty – this covers a loss caused by an employee or authorized representative who commits a dishonest act.
- Outdoor Property – this coverage applies to your outdoor items, which includes signs (not attached to your building), fences, shrubs and plants, and satellite dishes.
- Spoilage coverage – this covers your perishable supplies, inventory or other materials that may be lost due to a covered cause of loss such as mechanical breakdown or power outages.
For over 4 decades, Barr’s Insurance has been tailoring Commercial Property Insurance to meet your specific risk concerns, allowing you to opt for more coverage for some exposures, and less for others.
Contact Barr’s Insurance for a free quote and more information on this type of insurance.