Commercial property insurance policies for businesses of any size may be purchased as a stand-alone or in conjunction with other policies.
Your insurance agent can help you customize your coverage to address the specific risks facing your business, including selecting the type of property insurance coverage you may need.
There are typically two types of coverage offered by insurance companies: replacement cost or actual cash value.
Replacement cost: Pays to repair or rebuild property with materials of the same or comparable quality.
Actual cash value: Pays the current value of the damaged property and the cost to rebuild or replace property, generally replacement minus depreciation.