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Commercial Property Insurance
Fletcher Insurance Group’s commercial property insurance keeps your business from experiencing small to catastrophic losses, keeping everything running as smooth as possible. Our coverage protects the physical assets of those who own their building, lease an office or work from home.
Contact us today to find out how we can help.
The Basics of Commercial Property Insurance
A commercial property insurance plan will vary on a per case basis, but they are mainly classified by the kind of event that leads to damage, as well as what physical asset is insured.
Basic commercial property insurance will typically cover loss due to theft, fire or explosion, damage made by vehicles and aircraft and vandalism.
Usually, you would cover the following items under your commercial property insurance plan:
How We Determine the Loss
Commercial property insurance plans cover losses by paying for the replacement cost of the damaged property or its real cash value.
Replacement Cost (RC)
RC is the payment amount needed to repair, replace, or rebuild damaged property in its original state using similar quality and materials and without taking off depreciation.
Actual Cash Value (ACV)
ACV is what it costs to buy brand new property that is similar in style and quality, minus depreciation.
Usually, the premiums are lower for properties insured under the ACV method due to the lower limit caused by subtracting depreciation.