COMMERCIAL PROPERTY INSURANCE

Protecting the physical assets your business relies on

Commercial Property insurance protects the buildings and physical assets your business owns or uses against loss or damage caused by covered events. These assets are often the backbone of daily operations — and replacing them after a loss can be financially devastating without proper coverage.

Whether you own your building or lease a space, Commercial Property coverage plays a critical role in business continuity.

What Commercial Property Insurance Covers

Commercial Property insurance typically provides coverage for:

Buildings
Owned structures, including permanently installed fixtures and systems.

Business Personal Property
Equipment, inventory, furniture, tools, and other contents used in operations.

Tenant Improvements & Betterments
Improvements made to leased space that cannot be removed.

Business Income & Extra Expense
Replaces lost income and helps cover additional expenses if operations are interrupted due to a covered property loss.

Coverage applies to losses caused by covered perils, as defined in the policy.

What It Does Not Cover

Commercial Property policies do not automatically cover:

• Flood or earthquake (unless endorsed)

• Normal wear and tear

• Mechanical breakdown (unless endorsed)

• Employee theft (covered under crime insurance)

• Cyber-related losses

• Certain outdoor property or specialized equipment

Understanding exclusions is just as important as understanding coverage.

Who Needs Commercial Property Insurance?

Commercial Property coverage is important for:

• Building owners

• Tenants with valuable contents or improvements

• Manufacturers and distributors

• Retailers and restaurants

• Offices and service businesses

• Real estate investors and lessors

Even businesses that operate remotely may have physical assets requiring protection.

How Coverage Is Structured

Commercial Property policies are structured based on:

• Property valuation (replacement cost vs. actual cash value)

• Deductibles

• Covered causes of loss

• Coinsurance requirements

• Sublimits and endorsements

Improper valuation can lead to underinsurance and reduced claim payments.

Real-World Claim Examples

• Fire damages a business location

• Storms cause roof or water damage

• Theft or vandalism results in loss of equipment

• A burst pipe forces temporary closure

Property losses often trigger business income claims, compounding financial impact.

Why Proper Placement Matters

Commercial Property coverage varies significantly by:

• Carrier forms and endorsements

• Construction type and occupancy

• Geographic location

• Loss history and risk controls

Failing to properly structure coverage can result in coinsurance penalties, coverage gaps, or delayed claims.

Our Approach

At Cory Washington & Co., we evaluate property exposure holistically — including valuation, loss scenarios, and operational dependency. Our focus is ensuring coverage supports full recovery, not just minimum compliance.

Property protection should support long-term business resilience.

Disclaimer

All insurance descriptions on this website are provided by Cory Washington & Co. LLC strictly for general informational purposes. They are not intended to be, and should not be relied upon as, legal, financial, or insurance advice. The information presented is general in nature and does not guarantee the availability, terms, conditions, or scope of any insurance coverage. Actual coverage is determined solely by the specific policy language issued by the insurer and remains subject to underwriting approval. Nothing on this website creates or implies an agent-client relationship, binds coverage, or alters any existing policy. Cory Washington & Co. LLC expressly disclaims any liability for actions taken, or not taken, based on the content provided here. For advice regarding your particular situation, please consult directly with a licensed insurance professional at Cory Washington & Co. LLC or another qualified insurance professional, and always review your policy documents in full.