Whether you're starting a new business or have an existing company, your business is set up to generate profit. However, unexpected events can wipe out your company's gains before your very eyes.
Commercial property insurance mitigates these risks and can be the difference between a thriving business and one struggling to stay afloat.
Here are some reasons why commercial property insurance is a must-have for your business.
Protection Against Financial Loss
Financial reimbursement is, perhaps, the biggest incentive for getting commercial property insurance.
If a hurricane, tornado, or other natural disaster damages your property, you won't have to pay the cost of rebuilding or repair out of your own pocket. Similarly, commercial property insurance will kick in if a criminal steals your inventory or damages your equipment.
It also covers legal fees and helps pay for the repair or replacement. It also protects against third-party liability and collision.
Peace of Mind
Running a business can be very overwhelming. As a business owner, you have a lot on your plate and shouldn't take on the added risks of vandalism, theft, and natural disaster damaging your property.
With commercial property insurance protecting against many of these unexpected events, you can rest easy and focus on other aspects of the business.
Commercial property insurance is tax-deductible. This means it is a business expense that can be deducted from your company's income before taxation, helping to lower taxable income.
Also, if your property is damaged in a natural disaster, it may enable you to qualify for tax deductions for all or part of the losses.
In the business world, where credibility is everything, having commercial property insurance can reassure potential customers and partners of your company's credibility. This can give your business an advantage in today's competitive business clime.
Our knowledgeable agents will work with you to review your business needs and ensure you have commercial property insurance that completely protects you. Connect with us today.