Property insurance is a type of business insurance that protects your business against the loss or loss of use of company property. A variety of things are classified as “property,” such as lost income or business interruption, buildings, computers, money, and valuable papers. Additional property insurance can be purchased to guarantee protection to insure that if your building is destroyed, and it costs more to demolish and rebuild it to code than its current value; full glass coverage; full sign coverage; coverage in the event of equipment breakdowns caused by power surges, mechanical malfunctions, and boiler explosions; protection if your accounts receivable records are ever damaged or destroyed by a covered loss; coverage for any physical loss or damage to your computer hardware, loss of data, and computer software; and lastly, other popular industry-specific options, including coverage for contractor equipment and tools, installation, peak season, transit insurance, and other valuable items.
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