Jump ahead to learn:
- What does California Commercial Property insurance cover?
- Is Commercial Property insurance required in California?
- How much is Commercial Property insurance in California?
- How ERGO NEXT Commercial Property insurance can help protect California business owners
What does California Commercial Property insurance cover?
Commercial property insurance in California can help protect the goods and gear you rely on to run your business.
Commercial property coverage typically has three parts:
- Business personal property coverage (also called BPP insurance), which can help cover the contents of your business space, such as equipment, inventory, furniture, flooring and fixtures.
- Building coverage, which can help protect the commercial building structure itself, including things like HVAC systems, sprinklers systems or damage from a fallen tree.
- Business income insurance coverage (also called business interruption insurance), which can help replace lost income if your business needs to close 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 can help cover damage to a commercial structure that your business owns or rents. This may include California wildfire insurance coverage. For example, if fire strikes a convenience store in Los Angeles, your commercial property coverage can help with costs.
Inventory damage
If your inventory is damaged, a commercial property insurance policy could help you replace it so you can keep serving customers.
Damaged fixtures
Business property insurance could help pay to repair or replace physical 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 taken from your office, storefront, warehouse or other business space can be costly to replace. Commercial property insurance could help cover those losses.
Equipment breakdowns
Equipment breakdowns can slow down or stop your operations. Commercial property insurance can help cover repairs or replacement costs so you can get back up and running.
Business income interruptions
Business income insurance may help replace lost income if your business must temporarily close for repairs. For example, if a fire breaks out in the kitchen of your San Diego restaurant, your policy could help replace lost income while you rebuild.
Is Commercial Property insurance required in California?
Small businesses often need commercial property insurance in California when renting space for their business or buying property with a bank loan.
California 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.
