Jump ahead to learn:
- What could be covered by Commercial Property insurance in Louisiana?
- Is Commercial Property insurance required in Louisiana?
- How much is Commercial Property insurance in Louisiana?
- How ERGO NEXT Commercial Property insurance can help protect Louisiana business owners
What could be covered by Louisiana Commercial Property insurance?
Commercial property insurance in Louisiana 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
Commercial property insurance could help cover the cost of repairing a building your business owns or rents after a covered event. For example, if a hurricane sweeps through New Orleans, causing wind damage to your restaurant, commercial property insurance could help with costs.
Inventory damage
Commercial property insurance can also help with the cost of replacing damaged inventory. If a storm damages the inventory for your Lake Charles ecommerce store, commercial property insurance could help you replace it.
Damaged furniture and fixtures
Commercial property insurance could help with costs related to damaged physical fixtures on your business premises, such as:
- Windows
- Flooring
- Business furniture
- Display cases
- Retail shelves
Stolen business goods and gear
If someone steals equipment from your HVAC business in Shreveport, it could be expensive to replace. Commercial property insurance could help cover the cost.
Equipment breakdowns
Equipment breakdowns can disrupt your business operations. Commercial property insurance could help cover it so your business can get up and running again.
Business income interruptions
Commercial property insurance could help replace lost business income if your business is forced to temporarily shut down for repairs after a covered event. If a fire forces your Baton Rouge boutique to temporarily close, commercial property insurance could help replace your business income while you rebuild.
Is Commercial Property insurance required in Louisiana?
Commercial property insurance is often required for many small businesses in Louisiana.
Landlords often require commercial property insurance for business leases. If you want to purchase commercial real estate with a business loan, your lender will often require you to carry commercial property insurance as well.
Even where commercial property insurance isn’t required, many Louisiana small businesses could benefit from the protection it can offer. The state is highly exposed to hurricanes and other severe storms, which can cause significant property damage. However, some hurricane-related damage and flooding are typically not covered under standard commercial property insurance and may require additional coverage or endorsements.
