Whether you rent or own commercial property, you need NH commercial insurance to protect your property. Commercial property insurance covers buildings, factories, stand-alone shops, and more. However, this type of insurance is not to be confused with business personal property. Unlike personal coverage, commercial coverage doesn’t cover contents like electronics, stocks, and furniture.
Is NH commercial insurance similar to other property insurance coverage?
Yes. Commercial property insurance has deductibles and limits, just like any other type of property insurance coverage. Also, your policy may have specific exclusions that you should pay close attention to. Reading your policy once you receive it will help you better understand what is and isn’t covered.
What does commercial property insurance cover?
NH commercial insurance covers both the exterior and interior walls, roof, and ceiling of your property. In addition, the policy often includes additions, outbuildings, outdoor fixtures, and more. In some cases, your insurance may also cover machinery, appliances, and floor coverings. However, these items are typically only included if they are a permanent part of the property.
Commercial property insurance does not cover the contents of any of your buildings or the vehicles around it. Also, it does not cover any additions that are currently under construction. These elements can be covered by builders risk coverage.
Lastly, this insurance does not cover injuries and losses of others on the premises. Commercial property insurance is intended to cover losses that affect the building itself, not liabilities that occur inside or outside of it.
Are additional coverages obtainable?
Yes. You can also choose to have coverage added to your policy for the following:
Pollutant cleanup and removal: If pollutants are deposited on the land or in the water of your business due to an insurable event, this coverage may pay for their removal.
Debris removal: If an insurable event caused debris to be left on your commercial property, this additional coverage will pay for its removal, provided it exceeds the deductible.
Outdoor property: This covers outdoor items like fencing, plants, signage, or satellite dishes that may be damaged during an insurable event.
NH commercial insurance coverage is vital for any commercial property owner. The coverage helps protect the bulk of your investment from losses that fires, storms, vandalism, and other insurable events can create. It also protects your savings from being accessed to pay for repairs that make your business property usable again. For more information, contact our team today at 866-538-2544 to receive your free New Hampshire business insurance quote.