Regardless of the size of your business, how long you’ve been established, or your industry, your physical property faces many risks every day. It is extremely important that your property is well protected, as severe damage could jeopardize your livelihood. Here are some of the risks your property faces as a business owner:
– Destroyed billing records or damaged documents due to fire or water damage
– Employee dishonesty in reporting financial information
– Building or property damage
– Stolen cash in the event of a theft or burglary
– Being unable to open your business
– Stolen customer items
– Power outage
What Is Business Property Insurance?
Business property insurance helps protect owned or rented equipment, building, and personal property at your company. It will cover damage to your property in the event of a fire, theft, or lost income due to lack of operation. This coverage can help cover the costs to repair or replace:
– Personal property
– Tools and equipment
– Valuable documents
– Outdoor landscaping
Is Business Property Protected by Homeowners Insurance?
Business insurance is different from homeowners’ insurance. If you run a home-based business, your homeowners’ policy will not protect your business property.
Who Needs Business Property Insurance?
Any company that has a physical storefront location or office building, or anyone that runs a home-based business, should consider purchasing property insurance. Without this coverage, you may have to pay claims and damages out of pocket, which can put you and your business at financial risk. With property insurance, you can feel more confident that your business won’t be put on the line in the event of damage or claims.
Property Insurance for Businesses In Michigan
With 40+ years of proven experience, CTG Insurance delivers personalized solutions tailored to your unique needs, risks, and budget. Speak to one of our experienced advisors to find the right insurance policy for your business.
Have questions? We’re here to help.
Send me an email to firstname.lastname@example.org or call/text our office at (810) 695-0096.