Commercial Property Insurance

Tanna Insurance

Purchasing commercial property insurance for your organization is one of the most essential things you can do to protect the assets of your company from an unexpected event that could have severe implications. Aside from protecting your business premises, there’s also other things, such as your signage, inventory, equipment, furnishings, landscaping, and other essential assets that you work hard to secure.

As an established and trusted Insurance agency, we understand the risks our local business partners face, and we work hard to ensure you get the best commercial property coverage to suit your individual needs.

Do you need to buy business property insurance?

A commercial property policy will give you coverage for the cost of repairing or rebuilding your premises in the event they are damaged or destroyed by a covered peril.  This type of commercial insurance is not required by law, but most mortgage providers will insist that you buy commercial property coverage before they approve a business loan.

If you are the owner of your business premises, buying building insurance means you are covered against the cost of a repair or rebuild should the worst happen. If you lease the building, then you should still consider buying commercial coverage to protect your assets and equipment.

Business Property Insurance Explained

Commercial property insurance is here to protect your business assets from fire, theft, storm damage, vandalism, explosions, burst pipes, and other such events. Each insurer will offer slightly different terms, and that’s one of the ways we, as your local insurance agent, can ensure you get the right commercial property coverage in place. 

Typically, earthquakes, floods, and other such natural disasters aren’t usually covered by commercial property insurance, unless they are specifically requested, and added as an extra endorsement to your policy.

What is the cost of commercial property insurance?

As with any commercial insurance you buy, your  insurance agent will need to undertake an initial assessment in order to establish some key facts. There are some important factors that are taken into consideration when working out the cost of your business property insurance. These include:

  • Building Construction

The age of your building and its construction will impact the cost of your coverage. Matters such as whether or not it was constructed using fireproof materials, along with the age and state of the HVAC, plumbing, and electrics all need to be considered as well.

  • Occupancy

Your business sector is a key factor that is taken into account when analyzing the risks your property could be exposed to.

  • Fire and Theft Coverage

This factor is specifically relating to things such as where your nearest fire hydrant is located, along with your proximity to the local fire station. It may also take into account whether or not you have a sprinkler system installed, along with reviewing your fire and security alarms systems.

  • Location

Is your business property is located in an area prone to certain disasters, storms, or does it have a higher than average crime rate? If so, these elements would impact the cost of your commercial property insurance.

At Tanna Insurance, we pride ourselves on delivering a superior level of service to all our clients. If you need to buy commercial property insurance for your company, let us help you get the right coverage at the best rates.

What is covered by Business Property Insurance?

At Tanna Insurance, we work closely with our clients to make sure any insurance we offer suits the unique business needs of our clients. In most cases, the coverage includes:

  • Your physical building
  • The physical contents in your building, such as IT equipment, inventory, furnishings, company documentation, and other people’s property.
  • External Signage
  • Landscaping
  • Fencing

As a commercial insurance agency, we understand the importance of balancing the right levels of coverage with the budget in mind. Talk with a member of our team today about your commercial insurance needs.

Request a Commercial Property Insurance Quote

Buying commercial liability insurance is essential for your personal and professional protection. With so many types of insurance to review, it’s easy to come unstuck or get overwhelmed by the details. As your local commercial insurance agent in Woburn, we offer a personalized service, and we build insurance packages that are tailored to your individual needs.

Why Choose Tanna Insurance?

We’ve been in business for over twenty years with industry experience of over forty. Here are just a few reasons why clients enjoy doing business with us.

  • Trusted and well-established Insurance agent
  • Independent, family-owned and operated business
  • A dedicated team of insurance experts
  • Personal attention and tailored insurance packages
  • Access to many National & Regional companies
  • Outstanding attention to client services

If you want to work with an insurance agent you can trust, the team at Tanna Insurance can help you protect your business, your people, and your assets.