Commercial Property insurance is a necessity to properly protect your business whether you have a small firm or large company, own or lease the building. From property damage as a result of a fire or severe weather, a business interruption that forces you to close down while repairs are being done, and other losses, the right Property insurance will respond to help keep your doors open. The bottom line: Commercial Property insurance is an essential component of any comprehensive insurance program to help protect your business and its future. Preferred Insurance is ready to put the right policy in place.

The Ins & Outs of Commercial Property Insurance

Commercial Property insurance helps pay to repair or replace your building, business personal property, such as inventory, equipment, furniture, fixtures and outdoor signage damaged or destroyed because of fire, storm, or other incidents covered by your policy. It may also pay to replace stolen or lost property.

Even if you rent or lease your business space from a landlord, you need to purchase Property coverage to insure your on-premises property, including machinery, furniture, merchandise and inventory. The cost of this coverage will be less because it doesn’t cover the building, only the contents inside.

Types of Commercial Property Policies

There are three types of Commercial Property policies available in Texas. The policies protect against different causes of damage, commonly called “perils.” These include fire, lightning, windstorms, or damage caused by vehicles and civil commotion.

  • Basic form policies cover only named perils. This means that if coverage is not named in your policy, there is no coverage.
  • Broad form policies cover common perils in addition to water damage, structural collapse, sprinkler leakage, and damage caused by ice, sleet, or weight of snow.
  • Special form policies cover all types of perils except those the policy specifically excludes. Common exclusions include damage from flood, earth movement, war, terrorism, nuclear disaster, wear and tear, intentional acts, neglect, and power failure.

A Total Review of Your Property Insurance Program

Our staff will evaluate the coverage amounts on your building and business personal property as well as your deductibles and coinsurance values, and explain how the insurance is applied. We’ll also evaluate what the cost would be to replace the property should a loss occur and make sure the building is insured for what it’s worth. We’ll look at whether your Property insurance includes valuable papers and records, adequate debris removal, increased cost of construction, content and improvement and better amounts, and equipment coverage.

We will also discuss Business Interruption coverage as part of your Property insurance solution. Business Interruption and Extra Expense insurance will protect your company from financial losses and expenses associated with a temporary shutdown caused by a covered property loss such as fire. The policy covers:

  • Income you would have made if your business hadn’t been damaged
  • Bills you have to pay even though you are closed
  • Expenses related to use of a temporary location
  • Costs incurred to keep your business open after a disaster, such as renting equipment to substitute what was lost
  • Income deficiencies associated with recovery after you reopen

Preferred offers many types of coverage options to protect your business. Let us customize a Commercial Property insurance policy that fits your business needs and budgetary parameters.

Make Preferred Your Insurance Choice

The hallmarks of our success are our integrity, ethics, reliability and the value we place on our clients. We invite to learn more about us, and make Preferred your agency of choice. Give us a call at 888-943-5144 or or email us at