3.  Better for Long-term Planning

If you intend to run a business for long, getting commercial property insurance is a no-brainer. Companies don’t often know the number of losses they’ll encounter in a year. 

If you have to cough up money rebuilding your property or replacing equipment that runs into millions of dollars, it can be difficult, if not impossible, to make long-term growth plans.

Alternatively, you can take the worry and risk out of the equation and invest in commercial property insurance.

4.  Commercial Property Insurance is Tax Deductible

You might not know that commercial property insurance is tax-deductible. You’re not alone – a lot of people don’t. What does this mean, and how does it benefit you?

According to the IRS, all the necessary and ordinary costs of insurance are considered business expenses. Commercial property insurance is common and accepted no matter what business you do. Therefore, you can file the insurance premium you pay as a business expense and deduct it from your tax.

This tax deduction allows you to deduct the premium you pay for landlord liability insurance. You can also remove the costs that cover the health and compensation of workers and the protection of your equipment, documents, furniture, computers, tools, etc.

However, you might not be able to write off some premiums, which is why you should work with a professional.