Commercial Property Insurance in Pennsylvania

Also providing commercial property insurance to residents in Maryland, North Carolina, New Jersey, and Virginia.

Anthony Acri Insurance

What is commercial property insurance?

Pennsylvania businesses need to protect the assets that they make investments in. One important aspect of protecting larger assets can be to purchase commercial property insurance.

Commercial property insurance provides customizable coverage for buildings and other assets that businesses own. Policies can cover a variety of assets against damage and loss.

Who in Pennsylvania should have business property insurance?

Any Pennsylvania business that owns a building or land may want business property insurance. Businesses might also get coverage for expensive equipment or extensive inventory.

In cases where real estate or equipment is financed, lenders often require at least some business property coverage. It’s often recommended for valuable assets regardless of lender requirement, though.

What properties can be covered by business property insurance?

Business property insurance can be tailored for most types of buildings that businesses might own. The following are merely a few examples of different properties that can usually be covered:

• Retail stores
• Restaurants and cafes
• Office buildings
• Manufacturing facilities
• Warehouses and storage units
• Agricultural structures
• Specialized buildings (e.g. hospitals)
• Multi-unit residential properties
• Some types of undeveloped land

There are still many more properties that policies would be available for.

What coverages are typically included in business property policies?

Business property policies can include a range of coverages, which is why these policies are available for so many different types of properties. Some coverages that policies may have are:

• Building Coverage: Normally for the primary structure located on the insured property, and might also cover other structures on the property.
• Contents Coverage: Normally for movable items at the insured location, whether kept inside or outside of a building. May protect equipment, product inventory, supplies, appliances, furniture and electronics, for instance.
• Exterior Signs Coverage: Normally for separate outdoor signs that aren’t physically connected to the main building. Signs might, alternatively, already be covered under building coverage.
• Tenant Improvements Coverage: Normally for insuring changes and enhancements made by tenants to a leased commercial space.

An insurance agent who knows business property insurance well can help businesses make sure their various assets are well covered.

Do commercial property policies come with any liability protections?

Commercial property policies are primarily for insuring physical assets. Most don’t have liability coverages. Liability protections can be obtained through separate commercial liability policies, of which there are many options.

Are digital assets covered by commercial property policies?

Since commercial property policies are mainly for physical assets, they usually don’t offer much protection for digital ones. Separate coverage is normally needed if files or other data are to be protected against online risks. This coverage might be cyber liability insurance or something similar.

Do commercial property policies cover equipment when it’s not at a business’s facility?

Coverage for off-site equipment may not be included in standard business property policies. Instead, covering equipment that’s taken to/from other locations often requires additional protections. Inland marine coverage and builders risk coverage might offer the needed protection when equipment isn’t at a facility.

Inland marine, builders risk and liability coverages can frequently be bundled with commercial property coverages.

Can a single commercial property policy cover multiple business locations?

Yes, businesses with multiple properties in Pennsylvania usually are able to cover the locations with one commercial property policy. An insurance agent who specializes in commercial property policies can help businesses find a policy that offers multi-site protection.

How much does insuring a commercial building cost?

Just as the cost of homeowners insurance varies, so too does the cost of insuring a commercial building. A building’s location, size, construction, security system, fire suppression system, and many other details can impact cost.

An easy way to find out how much insuring a specific building would cost is to work with an independent insurance agent. Independent agents can compare policy options from among several different insurers.

Where can businesses find commercial property insurance?

If your business has a building or other assets to insure, contact the independent insurance agents of Anthony Acri Insurance Agency. Our Pennsylvania agents have helped many businesses insure their assets. We’ll work with you to find commercial property insurance that protects your business’s buildings, equipment and inventory well.