Commercial Property Insurance in Chicago, IL

Financially safeguarding tangible business assets can be crucial for helping to ensure stability and operational continuity. Whether you run a small retail shop, a manufacturing plant or a home-based business, unexpected events can disrupt your operations and financial health. Business property insurance, or commercial property insurance, can offer a financial safety net to mitigate these risks.

What Is Commercial Property Insurance?

Commercial property policies represent an agreement between your business and an insurance company. It outlines the compensation you may receive if your business’s physical assets are stolen, destroyed or damaged due to a covered issue within your policy.

What Are Some Commercial Property Policy Exclusions?

While commercial property coverage typically offers financial coverage for your building, permanent fixtures and business property within the insured location, there can be exclusions for specific types of property, such as the following:

• Valuable items (e.g., jewelry, artwork or sensitive electronics) may require additional coverage.
• Cash and securities are often excluded due to the high risk of theft.
• Property belonging to customers, vendors or guests left on your premises is generally not covered.

By understanding these exclusions, you can avoid gaps in your commercial property coverage.

How Are Commercial Property Insurance Premiums Calculated?

The following factors can influence the cost of a commercial property policy:

• Property value
• Location and risk exposure
• Structural details of buildings
• Occupancy and use of the property
• Security measures
• Claims history

Where to Get Commercial Property Insurance in Chicago, IL

Contact Salvador Insurance Agency to discuss your insurance needs. We have been serving the Chicago, IL area with insurance experience for over 50 years.