Do commercial property policies cover off-site?
Most commercial property policies only extend coverage to equipment, supplies and product inventory located at the insured property’s premises.
To protect items during transportation, businesses can purchase inland marine coverage. Builders risk coverage or other protections might be used for items located elsewhere, such as at worksites or trade shows. In certain circumstances, like for small businesses, commercial property policies might cover low-value items at customer sites, festivals, or similar locations.
Can commercial property policies insure multiple locations?
Yes, commercial property policies can often cover multiple locations, provided those locations are within Massachusetts (or any other single state). A seasoned insurance agent can help find the most efficient way to insure multiple sites.
Can a business adjust its coverage as it grows?
Yes, a business can typically adjust its commercial property coverages as it grows. Whether a business is expanding its physical space, acquiring new equipment, or shifting its operations, an experienced insurance agent can make sure the necessary business property insurance protections are in place.