Commercial property insurance is fundamental for protecting your hard-earned assets. A well-written policy will cover your buildings, inventory, equipment, tools, and more against losses from fires, break-ins, vandalism, weather events, and other natural or human-caused disasters.
As a local, independent insurance agency, Rehm Insurance has a deep understanding of Southern Minnesota communities and can help you secure fair, comprehensive coverage for your commercial property.
Essential Commercial Insurance Coverage Areas
Building Insurance
If you own a commercial building, accurate coverage for replacement costs is crucial. While cost estimators are available, we recommend third-party appraisals to determine precise replacement values for proper coverage.
Flood Insurance
Most insurance policies for your commercial property exclude flood damage. A separate flood policy is necessary for this protection.
Business Personal Property Insurance
This type of insurance coverage protects your business assets at specified locations, including:
- Furniture
- Fixtures
- Equipment
- Inventory
Please note that standard policies typically limit coverage for property taken off-site. Consider commercial inland marine coverage for your equipment that is frequently used at different locations.
Business Income (Business Interruption Coverage)
This type of insurance coverage reimburses an owner for lost profits and fixed expenses during a period of time that the business is closed. It applies while the premises are being restored because of damage from an unexpected, such as fire.
Business income insurance may also cover financial losses that occur if civil authorities limit customer access to your neighborhood or business after a disaster.
Electronic Data Processing (EDP)
EDP insurance coverage is a separate type of insurance policy that is specifically designed to protect your computer-related equipment. Most commercial property policies have limited coverage for computer networks, but EDP broadens the causes of loss to include things like power surges – and in some cases, virus attacks.
As your local insurance agency specializing in commercial coverage, we will help determine the right policy types and amounts for your specific business needs. Let’s talk through your needs and determine what gaps need to be covered!