Property Insurance
Pinellas Park

When the Unexpected Happens, You'll be Ready

Imagine a fire breaks out and you lose your entire inventory. Or your business is burglarized causing physical damage and possibly lost assets. Your ability to recover from these incidents is dependent on your commercial property insurance.

In case of catastrophes like fire, explosion, theft, or vandalism, property insurance helps cover your costs, whether it’s to repair damaged property or replace what you’ve lost. In addition, property coverage can provide business interruption income coverage if a covered loss forces you to close your business for an extended period of time. Protecting your business property ensures your peace of mind if a disaster occurs. Coverages might include:

• Building & Personal Property
• Builders Risk
• Business Income
• Extra Expense
• Legal Liability

Talk to your ARCW Leavitt Insurance Services representative today about your property coverage.

Boiler and Machinery

Boiler & Machinery insurance covers direct damage to covered property when caused by a covered cause of loss. Covered property is any property that is owned by the named insured or is in the named insured's care, custody, or control and for which the named insured is legally liable. A covered cause of loss is a sudden and accidental breakdown of the insured's boiler and machinery equipment or any part of the equipment described in the policy. Boiler and machinery insurance is necessary because commercial property policies exclude explosion of steam boilers and breakdown of machinery.

Builder's Risk

This program insures commercial buildings under construction against damage from fire, windstorm, theft and other exposures. Coverage also applies to property while in transit and during temporary storage. This may apply to a single location or may be written to cover multiple locations.

Business Interruption Coverage

If your business suffers a property loss it could cause the business to slow or close down while repairs are made. This may mean a complete or partial revenue loss depending on the timeframe and the damage. From the time the loss occurs until your business is running again, insurance can replace your lost profits, and provide a source of money to pay your necessary continuing expenses, like rent, payroll, taxes, etc.

You can also buy insurance to cover any extra expenses incurred in getting your business back into operation. It may take a while once you re-open for customers to discover you are back in business, which may hurt your bottom line. To meet this need, insurance companies offer coverage for the difference between your "before loss" business income and your "after loss" business income for a month or more while you regain your customers.

Commercial Crime

Protects your business property against burglary, robbery and theft.

Money and Security Coverage - pays for money and securities taken by burglary, robbery, theft, disappearance, and destruction.

Employee Dishonesty Coverage - pays for losses caused by most dishonest acts of your employees, such as embezzlement and theft.

Commercial Property

Property Insurance is any type of insurance that indemnifies an insured party who suffers a financial loss because property has been damaged or destroyed. Property is considered to be any item that has a value. Property can be classified as real property or personal property. Real property is land and the attachments to the land, such as buildings. Personal Property is all property coverage. Form is the form used to insure almost all types of commercial property. The insuring agreement in the Building and Personal Property coverage form promises to pay for direct physical loss or damage to covered property at the premises described in the policy when caused by or resulting from a covered cause of loss.

Contractors' Equipment and Installation Floater

Protects the extensive business investment you've made in your equipment. Coverage also is available for supplies and materials designated for installation.

Inland Marine

Inland Marine Insurance provides coverage for goods in domestic transit, goods of bailees/customers, movable equipment, and unusual property. Property of certain dealers and instrumentalities of communication and transportation are also covered. In short, inland marine insurance provides coverage for loss exposures that cannot be conveniently or reasonably confined to a fixed location. A bailee is any person or business that accepts the property of others for a specific purpose. Instrumentalities of communication and transportation are properties essential to communication or transportation. Properties that may come under this class are radio and television equipment, bridges, roads, tunnels, pipelines and piers.

Frequently Asked Questions

• Are floods and earthquakes covered under standard commercial property insurance?

  No, floods and earthquakes are typically not covered under standard commercial property insurance. Separate policies are available for these types of coverage.

• What does commercial property insurance typically cover?

  Commercial property insurance typically covers damage or loss due to fire, theft, vandalism, natural disasters, and more. It includes buildings, equipment, inventory, and outdoor signs.

• How can I lower my commercial property insurance premiums?

  You can lower your premiums by improving security measures, such as installing security systems, fire alarms, and sprinklers. Additionally, regularly reviewing your policy and comparing quotes can help you find cost-effective options.