Commercial Property Insurance, Texas
Protect Your Business Property With Texas Commercial Property Insurance
When shopping for Commercial Property Insurance in Texas, the specialists at the Thumann Agency are here to help you customize a plan that works for your business and your budget.
Commercial Property Insurance is a coverage that protects your business from a small hiccup to an extreme financial loss. Whether you lease or own your building, business property insurance can help protect your business's physical assets.
What Is Commercial Property Insurance?
Commercial Property Insurance helps protect the building your business owns or leases as well as your business personal property, including tools and equipment, inventory, and furniture. A commercial property insurance policy includes coverage for assets like accounts receivable, computers and lost income for when business operations are suspended due to a covered loss. Businesses can tailor their coverage to include additional protection like valuable papers and records coverage that can help pay to reproduce important documents, provide temporary storage and move records to avoid a loss.
Who Needs Business Property Insurance?
You might want to consider this coverage if you…
Own a commercial office or building.
Rent a commercial office or storage space.
Have valuable property, such as computers, culinary equipment, or specialized tools.
Have a property you rely on to run your business.
Worth noting: many commercial landlords require their tenants to have some Commercial Property coverage. Usually, they want you to purchase a policy that covers only your contents in the leased space. Read your lease carefully to check for potential insurance requirements.
How much does it cost to insure a commercial building?
The average annual cost of general liability insurance, regardless of policy limits, is $741 (less than $62 per month), with a median price of $428 (about $36 per month). Most small business owners (54 percent) paid between $400 and $600 for their policies, and 21 percent spent less than $400. (According to insureon.com)
Why Purchase Business Insurance?
Without Commercial Property Insurance, most startups and small businesses can't replenish their equipment after a covered event. For example, this study from insurance company The Hartford lists the average cost of typical small business property claims:
- Fire: $35,000
- Wind and hail damage: $26,000
- Water and freezing pipe damage: $17,000
- Theft & Burglary: $8,000
Having business property insurance doesn't mean your equipment will always be safe and sound. But it will help your business get back to normal operations much quicker. Have Questions? Call (972) 991.9100 or start you Commercial Property quote today.
Additional Resources:
- Small Business Group Health Insurance
- Is Your Business Ready for Disaster?
- 8 Types of Insurance for a Small Business
- U.S. Small Business Administration
