Having insurance on commercial building Houston, TX is the smart choice, especially if you own the building. Like with any of your personal property or heavy investments, you’ll want insurance to back you up when it needs repairs or replacements. The building you run your business in is also considered your property. Like personal homeowner’s insurance, you’ll want insurance on commercial building.
What does insurance on commercial building cover?
When a business buys commercial building insurance, it protects its building and its belongings in case they are damaged or killed by things like fire, theft, vandalism, and natural disasters. Fires, riots, and damage from cars (like a car crashing into a building) are also covered by this type of insurance.
Can I buy business property insurance when renting?
Yes! You can buy business property insurance even when you’re renting the building. Although your landlord should have insurance to cover the building itself, that coverage won’t extend to your property that’s inside the building. If a fire or something happens, your business’s assets won’t be protected.
Insurance only works when you have it at the ready before a natural or manmade disaster strikes your business. Protect your financial bottom line with the right coverage before you see the worst happen. Our experts can help you figure out the best ways to protect your business from all angles. We’ll assess your business assets and point out any risks that may compromise your business if it happens.
Texas Insurance Agency can tell you all the pros and cons of having insurance on commercial building. We can also help you find other types of business insurance that will protect your business from any possible risk. Contact our office as soon as you’re ready to explore all of your insurance options. We can set up a meeting, or you can get started beforehand by getting a free quote through our online form.
How Can Insurance on Commercial Building Houston, TX Help?
Also called business property insurance, it covers more than the building itself. Otherwise, it wouldn’t work for businesses renting their office or working spaces. Most of the time, a commercial building insurance coverage covers:
- Building Coverage: This includes the roof, floors, and walls of the building. In essence, this portion protects the building itself in its entirety.
- Contents Coverage: This protects the things that are inside the building, like electronics, office furniture, and equipment. It also includes any of your equipment, inventory, or supplies that you hold inside the building.
- Equipment Breakdown: If your business’s important machines or tools break down, equipment breakdown coverage can help pay for the repairs or replacements.
But every business and building has its own wants. Because of this, business building insurance is often customized to meet the unique needs of each business. Another thing to keep in mind is that commercial building insurance generally doesn’t cover things like earthquakes and floods. Often, these kinds of tragedies need their own policies or riders.
Check Out How BOP Can Help
The Business Owner’s Policy (BOP) Coverage blends different types of insurance into a single policy. This policy includes liability and property insurance. It’s made for businesses that are small to medium-sized. In general, this policy covers the following coverage options:
- Commercial Property Insurance: This type of insurance covers the buildings your business owns as well as the tools, supplies, furniture, and equipment you use for your business.
- Business Interruption Insurance: This covers the loss of income that happens when a business has to close because of a disaster or while it is being rebuilt after a disaster.
- Liability Protection: This protects your business from being sued for the harm it may cause to other people.
When you sell certain goods, your workers hurt you, or you sign certain kinds of contracts, BOP is usually in charge. Small and medium-sized companies like BOPs because they can change the policy to fit their needs and because it’s usually a good deal. A BOP may not be enough for your business, though, if it’s considered high-risk or is pretty big. You may need other types of insurance instead, so be sure to consult an insurance agent before you make your choice.
The Importance of Having Insurance on Commercial Building
Anything could happen to you. Every city has its fair share of issues, from varying crime rates to natural disasters and other unavoidable risks. You can also add in any industry-related risks, such as auto accidents, for transport services. There are several very important reasons why commercial property insurance is so important for a business, including the following:
- Protection from various risks
- Coverage for your business’s assets and property
- Legal liability
- Business continuity
- Satisfying any lease requirements
- Peace of mind
Without insurance, companies could lose a lot of money, have to shut down, or not be able to replace property that has been damaged or stolen. Businesses need insurance on commercial building to protect themselves from possible risks. You can avoid the entire issue by having the right insurance in place before things get out of hand. Texas Insurance Agency is here to help you find the right types of property coverage for your business, no matter how big or small.
Protect What’s Most Important
Insurance is an important thing to have in today’s society. Insurance acts as a safety net when things spiral out of control. It provides your business with a financial bottom line, helping you restore your assets or recover from a lawsuit. That’s why you want to have the right type of insurance to ensure you have just enough protection when things go south.
Call our office to see how our services will benefit you. Our Houston office is always ready to see things through until the end. We’ll show you how finding the right insurance on commercial building can make a difference when it matters.
Houston, Texas Fun Facts:
- Houston is also called Space City.
- It’s home to NASA Mission Control.
- “Houston” was the first word spoken on the Moon.