Commercial Property Insurance
Commercial Property Insurance Information
Coverage Considerations for Coastal Texas Communities
Based in Beaumont, Texas, J.S. Edwards & Sherlock is right in the heart of the Gulf Coast region. This means that many of our clients are vulnerable to the types of property damage associated with storms, wind, and extreme weather. Insuring commercial properties in coastal communities is a challenge, but J. S. Edwards & Sherlock is up to the task. Our goal is to provide outstanding commercial property coverage to businesses throughout the area.
Common Commercial Property Insurance Questions
What Is Commercial Property Insurance?
If your home burned down, you would use the dwelling and possessions coverage within your home insurance policy to pay for repairs and replacement items. Commercial property insurance is essentially the same, except it applies to your business’s property. When unexpected, unavoidable problems damage your workplace, appropriately tailored benefits will help you with the recovery process.
Why Is Commercial Property Insurance Important?
Every business owns property, and that property represents monetary value. Property damage impacts your ability to operate and turn a profit. This creates a high risk of financial insecurity, so you need to be able to rebuild your operation as effectively and efficiently as possible. Commercial property insurance provides the money to help you do so, thus limiting your financial liability in the face of unforeseen losses.
What Does A Commercial Property Insurance Policy Cover?
Property belonging to your business that is insurable under commercial property insurance includes:
Stock & inventory
However, policies only cover property damaged in covered perils, which usually include unforeseeable acts like fires, severe weather (hail, lightning etc.), break-ins, vandalism or similar incidents. Accidental or intentional damage, along with flood damage, are not covered. Commercial flood insurance is available as separate coverage.
How Much Commercial Property Insurance Do I Need?
Making your property insurance specific to you requires attention to detail, and you often need to supplement your benefits with more expansive coverage, such as:
Scheduled Commercial Property Insurance: You will insure different pieces of property under separate policy limits.
Inland Marine Insurance: This covers items when you are transporting company property or third-party property away from your main location (such as to a work site).
Bailee’s Customer Coverage: When a customer leaves their belongings in your care, they could be damaged in a covered peril. This coverage will pay for the losses.
Business Income Coverage: When your property sustains damage, you could face a halt in operations or loss of income as a result. This benefit can help you recover the lost money.
If you do damage to third-party property, then you will cover this property damage under your general liability insurance.
What Will My Property Insurance Cost?
Multiple factors can influence the cost of your property coverage, including:
Need Commercial Property Insurance? We Can Help!
Here at J.S. Edwards & Sherlock Insurance Agency, our goal is to help businesses choose the right insurance coverage for their unique needs and risks. We offer customized commercial property insurance policies to help cover the cost of loss or damage to property. It is important for businesses of all types to have this important type of coverage in order to protect their financial interests. Without a commercial property insurance policy, businesses are fully responsible for the costs associated with property damage and loss.
Our insurance experts are waiting to help you choose a commercial property insurance policy that is designed for your business. Give us a call today at (409) 832-7736 or request your free policy quote online to learn more! to get started! While most insurance companies exclude windstorm coverage, J.S. Edwards & Sherlock represents markets that will provide wind. Our agents are experienced in handling the challenges of insuring coastal Texas property risks.