What is commercial property insurance?
Commercial buildings are not small investments, and they should be protected as substantial financial assets. One aspect of protecting a Texas-located commercial property of any type is considering what commercial property insurance would be appropriate.
Commercial property insurance provides tailor-made coverage for commercial properties. Policies usually include coverage for a building, and most items stored on the property.
What Texas properties can business property insurance protect?
Business property insurance is broadly available for most types of commercial properties and assets. Policies might be purchased for Texas-located land, buildings, equipment and product inventory. Properties include those used as offices, retail stores, medical complexes, restaurants, manufacturing facilities, oil drilling locations, ranches and more.
Although business property policies generally aren’t required by law, businesses that have mortgaged properties or financed large equipment might be required to carry certain coverages. Such requirements are often instituted by lenders so that the lenders don’t sustain a complete financial loss if a building/equipment is a complete loss.
Regardless of any finance-related requirements, businesses generally should consider business property policies for any major buildings or other assets they have. Few businesses could sustain a major loss without financial troubles (or potential bankruptcy).