Commercial Property InsuranceNEW HAMPSHIRE | (603) 225-6611
We provide commercial property insurance for NH businesses. As an independent agency, we protect your property while also protecting your bottom line – by making sure you aren’t paying for more coverage than you need.
Commercial property insurance can cover anything that you consider a “physical asset”. Is it an item purchased for business purposes? Would loss or damage result in a financial burden to your company? If so, you should consider insuring it on a commercial property policy.
Covers Loss or Damage to…
Commercial property insurance covers buildings, the contents of a building, equipment, and other “add-ons” that carry monetary value to your business. This could include stock, furniture, computers, records, signs, supplies, and even outdoor property detached from a building.
Covers Loss or Damage as a Result of…
Commercial property coverage is typically triggered by loss or damage due to fire, windstorm, hail, lightening strike, explosion, vandalism, civil commotion or riot, and vehicle/aircraft damage.
Most of these property policies are written using an “all risk” form with standard exclusions that automatically restrict coverage for certain types of loss. Common exclusions include damage from floods or earthquakes.
There is a standard industry form that most carriers use as the foundation to a commercial property insurance policy. It is usually modified by the carrier into their own unqiue product, by adding exclusions or enhancement coverages. The standard policy covers buildings, business personal property, and personal property of others, subject to the policy limits. It can include additional coverage and extensions including:
Valuable Papers and Records
Business personal property coverage only applies to property at the locations listed on the policy. This extends limited property coverage to property off premises as long as the property is:
Temporarily at a location you do not own, lease or operate
In storage at a location you lease, or
At any fair, trade show or exhibition
To have coverage for business property items that don’t meet the above criteria, or to increase the amount of coverage for off premises items beyond the extension limit, an Inland Marine policy would likely be required.
Non-Owned Detached Trailers
Computers and peripheral devices like printers and monitors qualify as “covered property” under the ISO commercial property policy. These items are “machinery and equipment” so they are considered business personal property.
Electronic data is not included as covered property, but a limited amount of coverage is added on later in the form. This provides coverage for electronic data, information, facts or computer programs stored as or on, created or used on, or transmitted to or from computer software. Coverage pays for the cost to replace or restore electronic data which has been damaged by a covered cause of loss. Should the data be beyond repair, the loss is valued at the cost to replace the device that the electronic data was stored on.
Personal Effects and Property Of Others
Preservation Of Property
Pollutant Clean Up And Removal
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