commercial property insurance

Commercial property insurance is designed to cover the costs of repairing or replacing any property your business owns, in the event of a covered claim. With appropriate coverage, you can feel more confident that setbacks won't stand in the way of your success.

Some examples of commercial property that you would insure include:

• Office buildings
• Restaurants
• Retail stores
• Farmland
• Warehouses
• Repair shops
• Manufacturing plants
• Salons

Here's a look at how different types of commercial property coverage can help protect your business.

• Building or property damage
  If your business building or business property are destroyed due to a covered loss, such as a fire or theft, costs could add up quickly.
• You can't open your business
  Your business is damaged due to a fire and you cannot operate until repairs are made.
• Damage to property while off premise
  While in transit to a customer or vendor's location, you are involved in an accident, and your tools and equipment are damaged.
• Computer hack
  It is discovered that someone hacked into your bank account and transferred funds out of your account.
• Power outage
  The utility company's transformer blows and you lose power to your business.
• Stolen cash
  Money stolen from your company in a theft or burglary could lead to hardship.
• Customer items are stolen
  While a customer's goods are in your care, someone breaks in overnight and steals their items.
• Damaged or destroyed documents
  A pipe bursts and leaks over a filing cabinet that contains critical documents. Many documents are damaged and others are completely destroyed. This makes it difficult for you to collect payments from customers.

Any business that operates out of a building could benefit from commercial property insurance. Restaurants, salons and offices are a few examples.

There are a few factors that determine the cost of your commercial property insurance policy. These include the kind of business, types of property, coverage limits and other varying considerations like the number of employees and claims history.

Through NEXT, commercial property insurance can cost as low as $17 a month for low-risk businesses.