Commercial Property Insurance for Florida Businesses

Business Insurance for Commercial Property

Commercial property insurance protects the physical assets your business depends on every day. Your building, equipment, inventory, furniture, and supplies represent significant investments that keep your business running. When fire, theft, vandalism, or severe weather damages these assets, commercial property insurance covers the repair or replacement costs. For Florida businesses, this coverage is essential protection against hurricanes and tropical storms that can devastate physical property.

Why Your Business Needs This

• Hurricane damage can destroy buildings and inventory throughout Florida's coastal regions
• Fire can wipe out your entire business location and everything inside it
• Theft and vandalism can result in significant financial losses and business disruption
• Water damage from burst pipes or roof leaks can ruin expensive equipment and inventory
• Without coverage, you'll pay out of pocket to replace everything needed to reopen

What It Covers

Commercial property insurance covers your building structure if you own the property, including walls, roof, and permanently installed fixtures. It protects business personal property like furniture, equipment, inventory, and supplies. The policy covers loss of income when property damage forces you to close temporarily. Many policies include coverage for outdoor signs, fences, and landscaping. You can add equipment breakdown coverage for mechanical failures, and electronic data coverage for information stored on computers. The Gordon Agency helps you identify all assets that need protection and ensures your policy limits match your actual replacement costs.

What Types of Property Damage Are Covered?

Standard commercial property policies cover fire and lightning damage, wind and hail damage, explosion, vandalism, and theft. They protect against water damage from burst pipes, damage from falling objects, and losses from civil disturbances. In Florida, wind coverage for hurricanes is crucial but sometimes requires separate endorsements. The specific perils covered depend on whether you choose an all-risk policy or named-perils policy. All-risk policies cover everything except specifically excluded perils, while named-perils policies only cover listed events.

Do I Need This If I Rent My Business Space?

Yes, commercial property insurance is essential even if you lease your space. Your landlord's insurance only covers the building structure, not your business contents. You need coverage for your inventory, equipment, furniture, computers, and supplies. If you've made improvements to the space, you need coverage for those tenant improvements. The Gordon Agency reviews your lease requirements and ensures you have adequate coverage for all your business property, meeting both your needs and your landlord's requirements.