Key Features of Commercial Property Insurance

Customized Coverage Plans

No two businesses are alike, and neither are their insurance needs. We offer customized coverage plans, including commercial building insurance, that cater specifically to your business’s property and risk profile. This includes coverage for the following: 

  •  Property Damage: Coverage for damage to your building and its contents.
  •  Business Interruption: Compensation for lost income and ongoing expenses if your business is temporarily halted.
  •  Equipment Breakdown: Protection for machinery and equipment essential to your operations.
  •  Theft & Vandalism: Coverage for losses due to theft or vandalism.
  •  Natural Disasters: Coverage for damage caused by natural events such as earthquakes, floods, or storms.

Risk Assessment and Management

Our Risk Synergy® approach integrates thorough risk assessment and management strategies. We work with you to identify potential risks and implement preventive measures to mitigate them. This proactive approach not only lowers your insurance costs but also enhances your overall risk management strategy.

Business Interruption Insurance

Disasters don’t just damage property; they can also disrupt your business operations. Our commercial property insurance includes business interruption coverage, which compensates for lost income and operating expenses during the recovery period. This ensures that your business remains financially stable even when operations are halted.

Learn More

Flexible Policy Options

We offer a range of policy options, including commercial real estate insurance, that can be tailored to your specific needs. From basic coverage to comprehensive plans that include additional endorsements such as flood insurance, earthquake insurance, and coverage for specialty equipment, we have the flexibility to meet your unique requirements.

Common Exclusions in Commercial Property Insurance Policies

Standard commercial property insurance often excludes:

  1. Flood and Earthquake: These events typically require separate insurance policies.
  2. Acts of War and Terrorism: Coverage for these events is usually excluded but can be obtained through additional policies.
  3. Wear and Tear: Gradual deterioration over time is not covered.
  4. Nuclear Hazard: Damage from nuclear incidents is excluded.
  5. Intentional Acts: Damage from deliberate actions by the insured or employees is not covered.
  6. Government Actions: Losses from government seizures or actions are excluded.
  7. Pollution: Environmental hazards typically require specialized policies.
  8. Contractual Liability: Liabilities assumed under contracts are usually excluded.
  9. Employee Dishonesty: Losses from employee fraud or theft require separate coverage.

Businesses should review their policies with one of our Property Insurance Specialists to identify coverage gaps and additional insurance needs.

Difference Between Named Perils and Open Perils Policies

Named Perils Policies

Coverage is limited to specific risks listed in the policy, such as fire, theft, or windstorms. If a peril is not named, it is not covered. These policies are typically more affordable but offer limited coverage.

Open Perils Policies

These policies cover all risks except those specifically excluded. This provides broader protection and greater peace of mind, but they are usually more expensive due to the wider range of coverage.

Business owners should weigh their specific risks, budget, and coverage needs when choosing between these options. Consulting with one of our Property Insurance Specialists can help you make the best decision.

Why Commercial Property Insurance Matters

Asset Protection: Businesses invest heavily in assets like buildings, equipment, and inventory. Commercial property insurance protects these assets against risks such as fire, theft, and natural disasters, ensuring swift recovery and minimal operational disruption.

Business Continuity: Property damage can halt operations, leading to revenue loss. Insurance covers repair or replacement costs, helping businesses resume operations quickly and maintain continuity.

Risk Management: Insurance transfers the financial burden of potential losses to the carrier, allowing businesses to focus on core activities without undue financial stress.

Legal and Contractual Requirements: Many lenders and partners require commercial property insurance, ensuring compliance and demonstrating financial responsibility.

Peace of Mind: Knowing that valuable assets are protected provides business owners with confidence to navigate challenges.

Financial Protection: Insurance covers expenses related to property damage, business interruption, and liability claims, helping maintain economic stability.

Get a Quote Today

Securing the right commercial property insurance is crucial for protecting your business’s future. Contact Tooher-Ferraris Insurance Group today to learn more about our comprehensive insurance solutions and to get a customized quote.

Call us at (203) 834-5900 or fill out our online quote form to get started.

Frequently Asked Questions (FAQs)

What type of property does commercial property insurance cover?

It covers various business-related structures, including office buildings, warehouses, retail stores, and restaurants.

What is not covered by commercial property insurance?

Standard policies typically exclude floods and earthquakes, but additional coverage options are available.

How much does commercial property insurance cost?

Costs depend on property value, location, business type, and coverage options. A Tooher-Ferraris insurance broker can provide estimates.

What if I share a building with other businesses?

You’ll need your policy for business contents and specific build-outs, even if your landlord has property insurance.

Are there ways to reduce commercial property insurance costs?

Implement security measures, maintain a clean claims history, choose a higher deductible, and bundle policies for discounts.

How do you ensure your policy remains up-to-date?

Regularly review your policy, especially with changes in property value, inventory, or business operations.

What if I have multiple business locations?

A single policy can cover all locations. Inform your agent about the number and types of locations for adequate coverage.

Insights

May 7, 2025

Navigating Life’s Twists and Turns: How Changes Impact Your Insurance Needs

  Life is a journey filled with exciting milestones and unexpected detours. Each significant event can bring immense joy and new responsibilities, but it also inevitably reshapes your personal insurance needs. Failing to adapt your coverage can leave you and your loved ones financially vulnerable when you need protection the most. At Tooher-Ferraris Insurance Group, […]

Read More
May 7, 2025

Home Renovations: Don’t Forget Your Insurance Policy

Dreaming of a stunning new kitchen, a spa-like bathroom, or a finished basement retreat? Home renovations are an exciting opportunity to improve your living space and increase the value of your property. But as you plan your project, it’s important not to forget a critical element: your homeowners insurance. Renovation projects, whether large or small, […]

Read More
May 7, 2025

Term Life Insurance: Affordable Protection for Individuals and Businesses

Term life insurance is one of the most cost-effective and flexible tools available for financial protection. It offers coverage for a specific period—typically 10, 20, or 30 years—and provides a tax-free death benefit if the insured passes away during the term. This straightforward policy structure makes term life insurance a smart solution for both personal […]

Read More
May 7, 2025

Why RV Insurance Matters For Your Home on Wheels

Owning a recreational vehicle (RV) means embracing freedom, flexibility, and the thrill of life on the open road. Whether you’re cruising across the country or camping for a weekend getaway, your RV is more than just a vehicle—it’s your mobile home, and it needs insurance coverage that reflects its unique role in your life.   […]

Read More
May 2, 2025

HR Legal Alert: IRS Releases 2026 HSA Contribution Limits and HDHP Deductible and Out-of-Pocket Limits

In Rev. Proc. 2025-19, the IRS released the inflation adjusted amounts for 2026 relevant to Health Savings Accounts (HSAs) and high deductible health plans (HDHPs). The table below summarizes those adjustments and other applicable limits.   2026 2025 Change Annual HSA Contribution Limit (employer and employee) Self-only: $4,400 Family: $8,750 Self-only: $4,300 Family: $8,550 Self-only: […]

Read More
April 16, 2025

The Power of Data: How Smart Plan Sponsors Use Analytics to Control Costs and Shape the Future of Health Care

Health care costs continue to rise at an unsustainable pace. For employers offering health plans, this upward pressure threatens not only budgets but also the ability to provide high-quality, competitive benefits. Yet some of the most successful plan sponsors are not only managing costs but actively bending the health trend. How? Through sophisticated use of […]

Read More
Skip to content document.addEventListener('DOMContentLoaded', function() { var videos = document.querySelectorAll('video.wp-video-shortcode'); videos.forEach(function(video) { video.muted = true; }); });