What Commercial Insurance Covers
What Is Commercial Property Insurance?
When you choose Bortec Insurance for your commercial property insurance we offer our client’s precision coverage, custom-created to address even the most unique range of business needs. From small businesses to large corporations, our experienced professionals will help our clients identify potential risks, before they happen.
Basic property insurance usually covers losses caused by fire, lightning, wind and hail, or acts of vandalism. Additional coverage can be added for earthquakes and breakage of glass. The essential items to insure in a business property insurance plan include your building, office equipment, inventory and outdoor items on the premises such as fencing, storage sheds, or outdoor signs. Commercial property insurance plans pay for losses based on the replacement cost (RC) of the item or its actual cash value (CV). Replacement cost (RC) refers to the amount necessary to repair, replace or rebuild property on the same premises, with comparable materials and quality without deducting any amount for depreciation. Actual cash value (ACV) is the cost to replace it with new property of similar style and quality, less depreciation.