Commercial Property Insurance in Fort Myers, FL & Cape Coral, FL

Some small business owners think they don’t need commercial property insurance, but property damage can cause substantial financial losses regardless of business size. This essential policy may provide financial support, helping your business recover swiftly from fire, theft and other unexpected disasters.

Is Commercial Property Insurance Required?

Commercial property insurance is often mandatory for businesses with a mortgage or loan. Lenders frequently require businesses to have insurance coverage to protect their investments. Additionally, businesses that lease their property may be required to have insurance by their landlord.

What Does Commercial Property Insurance Cover?

Commercial property insurance may cover loss or damage to physical assets owned or leased by your business. These typically include the following:

• Buildings

• Equipment and tools

• Furniture

• Inventory

• Outdoor fixtures such as signs and fences

Covered events may include burglary, fire, theft, vandalism, windstorms and hail, and sudden or accidental water damage. Most policies also have business interruption coverage, which may replace lost income if your operations are temporarily halted due to a covered event.

How are Commercial Property Insurance Rates Calculated?

Insurance companies consider several factors when setting the price for your premium. These include your property’s replacement cost, location, construction materials, and safety features. They also look at your business type and claims history. Urban locations generally have higher premiums than rural areas due to increased risk exposure. The more secure and low-risk your business appears, the lower your insurance rates will be.

Get a Quote

Contact Wilcox Family Insurance Company today to learn more about how commercial property insurance can help your business thrive. Our team can customize coverage options to match your budget and business requirements.