Name: Commercial Property Insurance
Brand: FIG Insurance

Question 1

What does commercial property insurance cover?

Accepted Answer

Commercial property insurance covers your business building, equipment, inventory, furniture, and fixtures against fire, theft, vandalism, windstorms, and other covered perils. It also covers loss of income if your business is temporarily shut down.

Question 2

How much commercial property insurance do I need?

Accepted Answer

You need enough coverage to replace your building, equipment, and inventory at current costs. FIG agents help you calculate replacement value and ensure you're not underinsured.

Question 3

Does commercial property insurance cover natural disasters?

Accepted Answer

Standard policies cover windstorms and hail but typically exclude floods and earthquakes. FIG can add separate flood and earthquake policies to ensure comprehensive protection.

Question 4

What is business interruption insurance?

Accepted Answer

Business interruption insurance (often included in commercial property policies) covers lost income and operating expenses when your business is shut down due to a covered event like fire or storm damage.

Question 5

How can I lower my commercial property insurance costs?

Accepted Answer

Install fire suppression and security systems, maintain the property, choose a higher deductible, bundle with other business policies, and work with FIG to compare rates from multiple carriers.

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