Insurance companies often have business owner’s policies specifically for those renting spaces for their place of business instead of owning the commercial property. These policies cover natural disasters, such as a fire burning down your unit, or water damage.
Commercial Renter’s Insurance
Commercial renter’s insurance reimburses you in the event your office equipment or stock is stolen or damaged. It also includes liability coverage in case you inadvertently damage the property you rent. Commercial renter’s insurance policies, which are also called a business or commercial property insurance policies, cover damage or destruction of property due to fire, vandalism, adverse weather conditions, and other common risks. Standard commercial property coverage also includes insurance against theft of property.
Additional coverage can be purchased for risks like flood damage in areas where floods are common. Coverage for your employees’ possessions may require an additional policy rider, although some policies do include limited protection of this type. You can add specific coverage for glass windows and displays. You may need to obtain additional coverage for any air conditioners that you install in your rented business location. Business interruption insurance that reimburses you when you can’t operate your business due to theft or property damage is also available as a time element coverage supplement.