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Written by Adam Miller
Three Types of Commercial Insurance That Protect Against Property Damage

Creating and running a successful business is a combination of a great idea, hard work, good employees, and the business property and assets needed for daily operations. However, it's important to protect businesses with quality commercial insurance in the event a catastrophe occurs. A closure of any length of time can spell disaster for companies, especially if the business suffers property damage and needs time to replace valuable and business-critical equipment. In today's blog post, we look at the three types of commercial insurance that help protect companies facing property damages.

Commercial Property Insurance

Businesses of all sizes and industries have some type of business property, whether equipment, tools, inventory, raw materials, furniture, fixtures, or the office and building space itself. When business property is damaged, stolen, or destroyed, it can be devastating for a business, especially if there's not insurance in place to help cover repairs or replacement costs. Commercial Property Insurance helps protect the value of business property companies need for daily operations.

Business Owners Policy

Business Owners Policy (BOP) is a bundled commercial insurance package that typically combines Commercial Property Insurance with General Liability coverage in order to provide even greater financial protection and peace of mind for business owners. With this coverage, businesses are protected from some of the most common commercial risks, such as property damage caused by fire, theft, windstorms, or vandalism, or third-party lawsuits for physical injuries, property damage, or advertising injuries.

Business Interruption Insurance

When a business is forced to close due to property damage, the financial impacts are two-fold: the cost of repairs and asset replacement, plus the loss of income and customers. Thankfully, Business Interruption Insurance can help by paying for income lost due to property damage covered by Commercial Property Insurance, such as fire damage or theft. The benefits paid allow businesses to cover lost income while focusing on rebuilding and reopening.

Commercial property damage doesn't have to equal a death sentence for a business. Instead, companies can get the financial help they need to quickly recover and reopen through top quality Commercial Insurance coverage from Aegis Insurance & Financial Services. Aegis offers a full range of top quality Commercial Insurance policies, including Commercial Property Insurance, Business Owners Policy, Business Interruption coverage, Workers Compensation, and General Liability policies. Contact Aegis today at 713-850-7622 for more information or fill out our online form to request a free quote!

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