Commercial Property Insurance
Protecting Your Business Inside and Out
Commercial Property Insurance from Lussier Insurance
From a small problem to a major loss, Lussier Insurance offers smart Commercial Property Insurance protection that covers it all. Regardless of whether you own or lease your building or workspace or work from home, commercial property insurance protects the physical assets of your business.
While there are differences in coverage among various Commercial Property Insurance policies, they are traditionally qualified by the type of loss and what is specifically insured.
What does Commercial Property Insurance cover?
Simply stated, Commercial Property Insurance helps protect your building and its contents, including furniture and equipment. It also covers your inventory as well as other people’s property. Included in your Commercial Property Insurance is coverage for your outdoor sign, your fence and your landscaping.
All businesses are different…and so are the policies that protect them
Lussier Insurance works with many of the nation’s most respected providers of business insurance. These carriers offer customized protection plans that address the specific and unique needs of your business. Additional coverage such as builder’s risk protection, business income, equipment breakdown are available as needed. Customize your protection with the professionals at Lussier Insurance.
What’s the first step in protecting your business?
First…know what you need to protect! There’s more to consider than the building and furniture. Take a thorough inventory of your business. Include ALL office equipment including phone systems and computers, whether they’re owned or leased. Don’t forget valuable company documents such as accounting records. Include any in-stock inventory as well as equipment used in the manufacturing and/or processing of your product. Don’t forget signs, satellite dishes, fences and landscaping. Once you’ve completed your inventory, call Lussier Insurance.
Replacement Cost vs. Actual Cash Value
Commercial property losses are paid based on one of two plans: Replacement Cost or Actual Cash Value. These are two very different methods and it’s important to understand the differences:
- Replacement Cost is the actual amount needed to restore, replace or rebuild the property using like materials and quality without subtracting for depreciation.
- Actual Cash Value is the amount it will cost to replace with new property of the same or similar type and quality MINUS depreciation.
Traditionally, Actual Cash Value premiums are lower due to the deduction for depreciation. Talk to your Lussier Insurance agent to determine the best policy for your business.