Commercial Property Insurance

Commercial Property Insurance

Commercial property insurance is a type of property insurance that protects businesses against financial loss from damage to, or destruction of, insured property caused by covered events such as fire and flood. It typically covers buildings, equipment, inventory, furniture, and other business assets. Policies may provide named perils or all risks (open perils) coverage, subject to the policy terms and exclusions. Some policies also include time-element coverages, such as business interruption and extra expense insurance. See also: Property insurance, Difference in Conditions (DIC) Insurance, all risks, named perils, business interruption, time-element coverage.