Commercial Property Insurance in Connecticut

You can save up to 25% in discounts.*

Commercial property helps cover physical assets

Business goods and gear

Business goods and gear

You turn your back and someone does the 100-yard dash with your business laptop. You’ll need a replacement.


A tree unexpectedly falls on your shop’s roof.
Equipment breakdowns

Equipment breakdowns

Your HVAC unit stops working the day after the warranty expires.
Business income interruptions

Business income interruptions

A fire damages an exterior wall at your business and you have to close for three weeks during repairs.

What does Commercial Property insurance cover in Connecticut?

Commercial property insurance in Connecticut can help provide coverage for the physical assets you need to run your business.

These insurance policies cover emergencies like damage from wind, water or fire as well as theft and vandalism. When certain types of accidents or emergencies arise, Connecticut business owners may be able to submit a claim to get help with replacement, repair or reimbursement costs.

For example, commercial property insurance could help businesses in the following types of scenarios:

  • Structure fire: If a fire damages your business assets, commercial property insurance can help cover the costs of repairs and replacements.
  • Water damage: Commercial property insurance can help pay to fix water damage resulting from leaks or burst pipes. Note: This does not include flood coverage (see below for more details).
  • Theft or vandalism: Commercial property insurance can cover property inside or within 100 feet of your business.

Make sure you read your policy documents carefully to find out exactly what is covered and what is excluded for your business. Coverage can vary between different industries.

Commercial property insurance can protect different types of property

Commercial property insurance policies help protect assets like:

  • Building structures
  • Windows
  • Flooring
  • Fixtures
  • Furniture
  • Equipment
  • Inventory
  • Business income

Types of Commercial Property insurance coverage

Connecticut commercial property insurance policies from NEXT can include up to four basic types of coverage:

Goods, gear and inventory

Commercial property insurance can help cover related costs if a covered event affects your furniture, equipment or inventory. This is also known as business personal property insurance or BPP insurance.

Example: If the equipment used by a Hartford home renovation contractor is damaged by water from a burst pipe, commercial property insurance could help pay for replacement or repair costs.

Business income interruption

Commercial property insurance can help cover lost income and other related expenses if your business has to close temporarily due to a covered event. This coverage is also known as business interruption insurance or business income insurance.

Example: If a fire breaks out in a Fairfield fabric store and the business has to close for two weeks while repairs are made, commercial property insurance can help compensate for lost income.

Equipment breakdowns

This insurance can help with replacement or repair costs if your equipment is damaged due to a power surge or mechanical failure.

Example: If the walk-in freezer in a Bridgeport restaurant stops working due to a problem with the circuit board, commercial property insurance can help pay to fix the problem.


Commercial property insurance can help cover repairs to a building that you own and use for your business. Businesses that lease or rent commercial space typically don’t need this coverage.

Example: If the windows of a Stamford clothing store are broken by flying debris during a tornado, commercial property insurance could help cover the costs to fix the damage.

Does Commercial Property insurance help pay for damage from natural disasters in Connecticut?

Connecticut business owners with commercial property insurance from NEXT can get coverage for fire, wind, hail and water damage related to severe weather events, such as:

  • Windstorms
  • Tornados
  • Wildfires

NEXT commercial property policies do not cover floods and volcanic eruptions. However, the National Flood Insurance Program provided by the federal government is the leading resource for flood insurance nationwide. If your business is located near the coast or in another flood-prone area, such as the Connecticut River basin, you should consider participating in this program.1

Severe thunderstorms and blizzards are some of the most common disasters in Connecticut. The Connecticut State Department of Public Health provides helpful guidance on what to do in the event of a natural disaster in the state.2

Vandalism and rioting are examples of man-made disasters also covered by NEXT commercial property insurance. Optional terrorism coverage is available as an add-on.

Is Commercial Property insurance required in Connecticut?

Connecticut businesses are not required by law to have commercial property insurance.

However, some banks, lenders and landlords require this type of insurance when a business purchases or leases a commercial space.

Many Connecticut business owners purchase commercial property insurance even when it’s not required due to the important advantages it can provide, such as:

Cover property damage costs

This type of Connecticut business insurance can help cover the costs if your property requires repairs or replacements to assets damaged by a covered event.

Survive business interruptions

If your business must close temporarily after a covered event, business income insurance could help cover your lost income, employee wages and moving and relocation costs.

Secure a loan

Some banks and lenders require proof of commercial property insurance before they will approve a mortgage loan for a business property. The Small Business Administration (SBA) requires small business owners to have business hazard insurance on building used as collateral for loans.

Sign a lease agreement

Some Connecticut business property owners may ask you to carry commercial property insurance before they’ll agree to rent a commercial space to you. This requirement is often written into commercial leases.

What types of businesses might need Commercial Property insurance in Connecticut?

Businesses in nearly every industry can benefit from having commercial property insurance in Connecticut.

Whether you rent or own the space where you do business, this type of coverage offers important financial protections.

While homeowner’s insurance can offer limited protections for home-based businesses, these policies typically don’t provide enough protection for business assets. Commercial property insurance can help provide additional coverage when needed.

Retail stores typically have a large stock of merchandise on site, which makes them more susceptible to damaged or stolen inventory. Commercial property insurance can help reduce financial concerns regarding these risks.

How much is Commercial Property insurance in Connecticut?

Many factors influence the cost of commercial property insurance in Connecticut, such as:

  • Total value of your business property
  • Your business’s industry
  • Work experience
  • Number of employees
  • Business location
  • History of past claims
  • How high you set your limits

NEXT offers affordable commercial property coverage for small businesses. In fact, 56% of our U.S. customers pay $45 or less per month for commercial property insurance.**

Learn more about commercial property insurance costs.

How NEXT Insurance helps Connecticut businesses

NEXT provides Connecticut commercial property insurance policies designed for small businesses and self-employed workers.

It only takes about 10 minutes to get a quote, review your coverage options, choose your policies and download a certificate of insurance.

Start an instant quote online today.

Our team of licensed insurance advisors is standing by to assist you if you have any questions along the way.

Other types of Connecticut business insurance

Connecticut property insurance can help protect your business’s physical assets, but additional coverage may be needed to protect against other types of risks.
Small business owners in Connecticut also consider these options:
General Liability
General Liability insurance

General liability coverage can help pay for costs related to accidents that cause property damage or injury to someone other than you or an employee.

Workers Compensation
Workers’ Compensation insurance

If an employee gets hurt on the job, Connecticut workers’ compensation insurance can help cover related expenses like medical bills and lost wages. All employers in Connecticut must have workers’ compensation coverage according to state law.3

Commercial Auto
Commercial Auto insurance

Commercial auto insurance can help pay for expenses like towing, repairs and medical bills in the event of an accident in a work vehicle.

Auto insurance is legally required for all vehicles in Connecticut with minimum coverage levels of $25,000 per person, $50,000 per accident and $25,000 for property damage.4

Errors & Omissions
Professional Liability insurance (E&O insurance)

Professional liability insurance can help protect your business if a client claims that you made a professional mistake that cost them money. It’s commonly bundled with general liability insurance for more comprehensive protection.

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Let’s find the coverage you need for your business
Business insurance is divided into different policies. We offer seven types so it's easy to design the coverage that fits your business.
General Liability insurance
General Liability
Protect yourself from accidents that cause physical injury or damaged property.
Professional Liability or Error and Omissions Insurance
Professional Liability/E&O
Shield yourself from lawsuits that claim your work errors caused financial losses.
Workers' Compensation Insurance
Workers’ Compensation
Cover medical bills and lost wages if your employees have an accident at work.
Commercial Auto Insurance
Commercial Auto
Stay on the road with coverage for dents, tows and damage to someone else’s vehicle.
Tools & Equipment Insurance
Tools & Equipment
Upgrade your general liability coverage to protect any gear that’s stolen, damaged or lost.
Commercial Property Insurance
Commercial Property
Keep your building, inventory and equipment protected from fire or water damage.
Business Owner’s Policy Insurance
Business Owner’s Policy
Combine general liability and commercial property into one policy to protect your business.
* To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.
** The cost data presented here are based on NEXT active customers in the U.S. who purchased commercial property insurance over the previous 12 months. These data should not be considered a substitute for obtaining a quote specific to your business. These data were updated in July 2022.
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Issuance of coverage is subject to underwriting. Not available in all states. Please see the policy for full terms, conditions and exclusions. Coverage examples are for illustrative purposes only. Your policy documents govern, terms and exclusions apply. Coverage is dependent on actual facts and circumstances giving rise to a claim. Next Insurance, Inc. and/or its affiliates is an insurance agency licensed to sell certain insurance products and may receive compensation from insurance companies for such sales. Policy obligations are the sole responsibility of the issuing insurance company. Refer to Legal Notices section for additional information.

Any starting prices or premiums represented before an actual customer quote are not guaranteed and are representations of existing premiums of active policies as of December 6, 2023. To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.