You are not legally required to carry business property insurance in the US. However, commercial property insurance is essential for safeguarding your business. Failing to have insurance means you must:
Cover the costs of repairing or replacing assets.
Meet the cost of repairing damaged premises.
Handle associated costs e.g. interrupted business operations.
If you don’t have commercial property insurance, you could face serious financial consequences. No matter how large or small your business, it needs protection.