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Commercial Property Insurance in PA

Businesses need Commercial Property Insurance

Entrepreneurs need Commercial Property Insurance

What Is Commercial Property Insurance?

This insurance provides coverage for buildings, business personal property and the personal property of others.

Why Do I Need It?

Damage to business buildings, personal property or equipment can devastate a business quickly. You’ll want to protect your business’s vital assets against potential loss to ensure that an unforeseen event won’t destroy the business you’ve built.

How We Help:

Whether it’s apartment buildings, warehouses, shopping malls, factories, or business property, we insure with excellent coverages. Some optional coverages include earthquake, flood, equipment floaters, blanket and business income.

Feel free to use our scene explorer tool, or continue reading below, to discover opportunities that Commercial Property Insurance could protect you in everyday life.

 

Errors and Omissions Insurance (E&O)

Errors and Omissions Insurance, or E&O Insurance, is often used to protect firms from client claims of professional negligence. When businesses need to employ complex systems in order to function, for example, property management firms, E & O Insurance provides protection from any exposure to lawsuits regarding those systems.

Crime and Fidelity Coverage

Property management firms and condo associations have access to monies from residents, employees, and owners. This access can be exploited, and Crime and Fidelity Coverage provides coverage for just that.

General Liability

General Liability Insurance is necessary for condo associations and property management firms for a number of reasons. The amount of risk present in day-to-day function is just too high for a property management firm to assume without having protection.

Cyber Liability Insurance

Data privacy is becoming more and more important as cyber attacks become more frequent – and more sophisticated. For property management firms and condo associations, the safety of their data as well as client data is crucial. If safety nets fail, having Cyber Liability Insurance is critical.

Hired and Non-Owned Auto Liability Insurance

There are many unique risks that property management firms and condo associations face. One of which is accidents during site travel. If an employee is involved in a car accident while driving to a site, the property management firm could be at risk.

Commercial Property Insurance

A Business Owners Policy (BOP) for Commercial Property Insurance provides coverage for any building a property management firm or condo association owns. It also covers personal property on the scene, as well as income lost for a covered event.

Commercial Umbrella Insurance

If a property is severely damaged, whether by a natural disaster or by a fire, property management firms or condo associations may be facing excessive repair costs. If these costs exceed the basic limit of a standard policy, you may be on the hook for that bill.

Commercial Umbrella Insurance offers coverage beyond the regular limits of a standard policy in case of catastrophic loss.

Environmental Insurance

Storage tanks tanks are susceptible to damage, and failure, just like any other equipment. However, events like leaking fuel tanks are not typically covered under basic insurance policies. Environmental Insurance provides coverage for clean-up as well as lawsuits resulting from leaking tanks.

Systems Breakdown Insurance

Equipment doesn’t last forever, and when it fails it can become very expensive to fix. When an elevator motor breaks down, or an HVAC unit fails, System Breakdown Insurance provides coverage for the loss.

Sponsor / Investors Owned Units Insurance

For condo associations, policies usually exclude sponsor coverage of unit interiors. Sponsors, or holders, of unsold shares remain responsible for damages that occur inside the units. To maintain adequate protection, Sponsor/Investor Owned Units Insurance provides that coverage.

Directors and Officers Liability Insurance

When managing properties or being a member of a condo association, numerous choices need to be made on a daily basis. To protect your business from potential lawsuits resulting from those decisions, you may need Directors and Officers Liability Insurance.