Jump ahead to learn:
- What could be covered by Commercial Property insurance in Georgia?
- Is Commercial Property insurance required in Georgia?
- How much is Commercial Property insurance in Georgia?
- How ERGO NEXT Commercial Property insurance can help protect Georgia business owners
What could be covered by Georgia Commercial Property insurance?
Commercial property insurance in Georgia could help to protect the goods and gear you need to run your business.
Commercial property coverage typically has three parts:
- Business personal property coverage (also called BPP insurance), which could help cover the contents of your business space, such as equipment, inventory, furniture, flooring and fixtures.
- Building coverage, which could help protect the building structure itself, including things like HVAC systems, sprinkler systems or damage from a fallen tree.
- Business income insurance coverage, also called business interruption insurance, could help cover lost income if your business is forced to close for repairs after an unexpected covered event, such as a fire or vandalism.
Commercial property insurance coverage can usually help business owners with:
- Building structural damage
- Inventory damage
- Damaged furniture and fixtures
- Stolen business goods and gear
- Equipment breakdowns
- Business income interruptions
Building structural damage
When the building your business owns or rents is damaged by a covered event, commercial property insurance could help with the cost of repairs. For example, if a fire damages the exterior of your Atlanta hair salon, commercial property insurance could help with costs.
Inventory damage
Commercial property insurance could help when your store’s inventory is damaged. If a wind storm damages the stockroom of your gift shop in Savannah, commercial property insurance could help cover the cost to replace the ruined goods.
Damaged furniture and fixtures
Commercial property insurance could help with costs related to damaged physical fixtures on your business premises, such as:
- Display cases
- Retail shelving
- Windows
- Flooring
- Business furniture
Stolen business goods and gear
When thieves break into your Columbus warehouse and steal the equipment you need to run your business, commercial property insurance could help. It could help cover stolen business goods taken from your office, storefront or other business space.
Equipment breakdowns
Commercial property insurance could help cover equipment breakdowns when essential systems fail, such as:
- Boilers
- HVAC
- Electrical panels
- Computer systems
- Commercial kitchen equipment
Business income interruptions
When damage from storms or other covered events forces your business to temporarily close for repairs, commercial property insurance could help you replace lost revenue.
Is Commercial Property insurance required in Georgia?
Small businesses may need commercial property insurance to lease, rent, or buy commercial property in Georgia.
Landlords may include a commercial property requirement in business leases here. Business lenders may also typically require commercial property insurance when you buy equipment or real estate with a business loan.
Many small businesses add commercial property insurance, even where it’s not required. Georgia businesses are exposed to a wide variety of weather risks, from coastal storms to tornadoes, ice and hail damage.
