Wieben Insurance Services

Commercial Property....

Commercial Property insurance is any type of insurance that indemnifies an insured party who suffers a financial loss because property has been damaged or destroyed. Property is considered to be any item that has a value. Property can be classified as real property or personal property.

Real property is land and the attachments to the land, such as buildings. Personal Property is all property coverage. Form is the form used to insure almost all types of commercial property.

The insuring agreement in the Building and Personal Property coverage form promises to pay for direct physical loss or damage to covered property at the premises described in the policy when caused by or resulting from a covered cause of loss.

Below are just a few of the important ways business property coverage can help you in the event of a loss ......

Business Interruption Coverage
If your business suffers a property loss it could cause the business to slow or close down while repairs are made. This may mean a complete or partial revenue loss depending on the time frame and the damage. Reimburses you for your actual loss of earnings for up to 12 months resulting from a covered loss to your property . While you get your business running again, insurance can replace your lost profits, and provide a source of money to pay your necessary continuing expenses, like rent, payroll, taxes, etc.

You can also buy insurance to cover any extra expenses incurred in getting your business back into operation. It may take a while once you re-open for customers to discover you are back in business, which may hurt your bottom line. To meet this need, insurance companies offer coverage for the difference between your "before loss" business income and your "after loss" business income for a month or more while you regain your customers.

Business Personal Property Insurance (Contents): provides coverage for furniture, fixtures, merchandise, materials and all other personal property owned by you and used in your business. Coverage is at replacement cost.

Commercial Crime:
Protects your business property against burglary, robbery and theft.

Employee Dishonesty Coverage: Pays for losses caused by most dishonest acts of your employees, such as embezzlement and theft.

Equipment Breakdown. Covers the cost to repair or replace equipment, such as computers, air conditioners, phone systems and steam boilers, following a loss or damage caused by mechanical breakdown or artificially generated electrical current.

Lock and Key Replacement. Pays for rekeying of locks, up to a specified limit, at your business premises following the theft of your keys by a burglar.

Money and Security Coverage: Pays for money and securities taken by burglary, robbery, theft, disappearance, and destruction.

Property of Others: Protects you against loss or damage to the property of others that is in your possession at a job site or on your premises. This coverage would respond to claims for accidental damage to customer equipment in your care, custody or control. If you are involved in computer installation, system integration or network maintenance, this coverage can be essential.

Wieben Insurance Services

The Place to Shop For ALL Your Insurance Needs

Contact us for more information or a quote:

Phone: (805) 584-0522 / (818) 716-0566

Fax: (805) 584-0284