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Commercial Property and Casualty Insurance

What is commercial property insurance?

Businesses have many physical assets, including buildings, computers, specialized equipment, outdoor signage and inventory. If a fire, storm or thief were to damage or steal these assets, a business may have to go through a recovery process before their doors can open once more.

Without adequate commercial property coverage, approximately a quarter of businesses fail during the first year following a disaster or theft. Such events result in hundreds of billions of dollars in paid claims. Most businesses cannot afford such a substantial loss. Commercial property insurance can assist with repairs, replacements and lost income during a tumultuous time like a natural disaster or theft.

Commercial property insurance can help in the following situations: 

  • Repair or replacement: Coverage can extend to assets that are lost, damaged or stolen due to fire, storm, hail, tornado, theft or vandalism. Damage from flooding and earthquakes are excluded.
  • Lost income: Income loss results from a business’ inability to run as usual following a disaster. This coverage can offer lost income relief, along with the expenses associated with recovery.
  • Temporary location: A devastated building may no longer be able to support daily operations. Coverage can extend to funding a temporary location while repairs are being made.

What is casualty insurance? 

Casualty insurance is the protection against legal liability. This type of insurance is concerned with the losses caused by injuries to persons and legal liability that falls on the insured for such injury or for the damage of property to others. 

Why do I need commercial property and casualty insurance? 


Property insurance is a “first-party” coverage. It provides for losses related to a policyholder’s own person/ property. Casualty/Liability insurance is a “third-party” coverage. This protection for a policyholder against the claims of others. A commercial property policy will cover buildings and the property. A commercial liability policy will protect policyholders against financial responsibility for injury or property damage resulting from a policyholder’s premises, products, services, or other operations. There are two main functions of  property and casualty insurance. The first is preventing losses (injuries, deaths, and/or property damage) from occurring in the first place. Through everyday business practices, insurers are always working to reduce injuries, deaths, and property damage. The second function is helping to recover from a loss. We help facilitate recovery from losses suffered by individuals or businesses, no matter the scale of the loss. Commercial property and casualty insurance will help keep your businesses stay financially stable and recover from unanticipated losses.


Other types of  coverage to consider:
Workers’ Compensation 
Business Owners Policies





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