Jump ahead to learn:
- What does Arizona Commercial Property insurance cover?
- Is Commercial Property insurance required in Arizona?
- How much is Commercial Property insurance in Arizona?
- How ERGO NEXT Commercial Property insurance can help protect Arizona business owners
What does Arizona Commercial Property insurance cover?
Commercial property insurance in Arizona can help protect the tools, inventory and equipment your business depends on every day.
Commercial property coverage typically has three main parts:
- Business personal property coverage (also called BPP insurance), which can help cover items inside your business, such as equipment, inventory, furniture, flooring and fixtures.
- Building coverage, which can help protect the physical structure of your commercial space, including HVAC systems or damage from events like monsoons or flying debris.
- Business income insurance coverage (also called business interruption insurance), which can help replace lost income if your business temporarily closes for repairs after a covered event, such as a fire or vandalism.
Commercial property insurance coverage can usually help business owners with:
- Building structural damage
- Inventory damage
- Damaged fixtures
- Stolen business goods and gear
- Equipment breakdowns
- Business income interruptions
Building structural damage
Commercial property insurance could help cover damage to a building your business owns or rents. For example, if a fire damages a storefront in Phoenix, your policy could help with repair costs.
Inventory damage
Say a burst pipes in your Chandler stockroom ruins stored goods. Commercial property insurance could help you replace it so you can continue serving customers.
Damaged fixtures
Business property insurance could help pay to repair or replace fixtures on your business premises, such as:
- Display cases
- Retail shelving
- Windows
- Flooring
- Business furniture
Stolen business goods and gear
Electronics and other stolen equipment from your office, storefront, warehouse or workspace can be expensive to replace. For example, theft at your jewelry shop in Flagstaff can result in costly losses.
Equipment breakdowns
When equipment breaks down, it can interrupt operations. For example, a failed gelato dipping cabinet at your Mesa shop during peak summer can slow operations. A commercial property insurance policy could help cover repair or replacement costs so your business can get back on track.
Business income interruptions
Business income insurance may help replace lost income if your business needs to close temporarily for repairs. For example, if a fire breaks out in the kitchen of your Tucson restaurant, your policy could help cover lost income while you rebuild.
Is Commercial Property insurance required in Arizona?
Small businesses often need commercial property insurance in Arizona when renting space for their business or buying property with a bank loan.
Arizona landlords frequently include commercial property insurance as a requirement in business leases.
And if you’re financing business property, like a storefront or equipment, your lender may require you to get commercial property insurance before approving the loan.
Even where commercial property insurance isn’t required, most businesses could benefit from the financial protection it can provide
