What is the average cost of a commercial property insurance? Commercial property insurance costs are largely dependent on how much property you need to insured. The larger the property, or the more it would cost to replace the property, the more the insurance will cost. Below you'll learn about the average cost of business property insurance across the United States and learn about what commercial property insurance can help you insure.
Over the past 5 years of all clients surveyed, as of 2015 the average cost of commercial property insurance has been $742 annually. This average only accounts for the property portion of business insurance policies, and accounts for all policies that had both business personal property for contents and building coverage.
This average does not take into account the average cost of policies that only insure either buildings only or business personal property only. Typically, insurance for an entire building will be much more than the cost of insurance for just business personal property, but that is not always the case.
Commercial property insurance is there to protect your business in case of any damage to buildings, computers, supplies or even go as far as protecting lost income and business interruptions. Commercial property insurance will negate the risks posed by fire, smoke, earthquake, vandalism, wind and hailstorms, and even accidental loss. By covering the risks today, you won't have to worry about ever shutting your doors.
Commercial property insurance comes in two forms of coverage. All-risk policies will cover your business for a wide range of incidents except for those excluded in the policy. Peril-specific policies will cover your business only for events written in the policy. If you're unsure as to what type of coverage would be best for you, feel free to call us and we will be more than happy to guide you through the process of ensuring the future of your business.
InsuranceTrak is here to help you with ALL types of business insurances! Other important business insurances to consider are as follows:
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