Jump ahead to learn:
- What could be covered by Commercial Property insurance in Missouri?
- Is Commercial Property insurance required in Missouri?
- How much is Commercial Property insurance in Missouri?
- How ERGO NEXT Commercial Property insurance can help protect Missouri business owners
What could be covered by Missouri Commercial Property insurance?
Commercial property insurance in Missouri 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 your Springfield retail store is damaged in a severe storm, commercial property insurance could help with costs.
Inventory damage
If your business’s inventory is damaged, 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:
- Display cases
- Retail shelving
- Windows
- Flooring
- Business furniture
So if a storm shatters the windows of your Columbia coffee shop, commercial property insurance could help you replace them.
Stolen business goods and gear
When electronics and other business equipment are taken from your business space, commercial property insurance could help cover the cost. For example, if someone steals the laptop you use as an IT consultant in Kansas City, commercial property insurance could help you cover the cost to replace it.
Equipment breakdowns
Commercial property insurance can help cover costs after an equipment breakdown. If a power surge shorts out the commercial refrigerator at your St. Louis restaurant, commercial property insurance could help with repairs or replacement.
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 tornado makes your Joplin gym unsafe, commercial property insurance can help replace lost business income while you rebuild.
Is Commercial Property insurance required in Missouri?
Commercial property insurance is often required for Missouri small business owners when leasing or buying equipment or property.
Landlords here usually include commercial property insurance in business leases, because it helps protect their building and your business property.
Lenders may also require proof of commercial property insurance when financing real estate or equipment with a business loan.
Even where commercial property insurance isn’t required, it can provide valuable protection for small business owners in Missouri. Severe weather is a year-round risk here, and many areas struggle with high rates of organized retail theft, according to the Missouri Chamber of Commerce.
