Commercial Property Insurance
Protect your building, equipment, inventory, and business assets.
Commercial property insurance covers the physical assets your business depends on—your building, equipment, inventory, and fixtures. Whether it's fire, theft, storms, or vandalism, property insurance helps you repair or replace what's damaged so you can get back to business.
Get a Commercial Property Quote
We'll help you determine the right coverage for your property
What Commercial Property Covers
Buildings & Structures
Your owned buildings, including the roof, walls, floors, foundation, and permanently installed fixtures like HVAC systems, plumbing, and electrical wiring. Coverage applies whether you own the building outright or are still paying a mortgage.
Business Equipment & Machinery
Computers, servers, manufacturing equipment, tools, office furniture, copiers, phone systems, and other equipment essential to your operations. This includes both owned and leased equipment.
Inventory & Stock
Raw materials, work in progress, and finished goods ready for sale. Coverage protects your investment in inventory whether it's stored in your building, a warehouse, or temporarily at another location.
Furniture & Fixtures
Desks, chairs, shelving, display cases, lighting fixtures, and other items that furnish your business space. Includes both functional and decorative items.
Tenant Improvements & Betterments
If you lease your space, this covers improvements you've made—built-in cabinets, flooring upgrades, lighting improvements, or other modifications that become part of the building.
Outdoor Property
Signs, fencing, landscaping, satellite dishes, and other property located outside your building. Outdoor signage is often your most visible business asset.
What's NOT Covered
Understanding exclusions helps you avoid gaps in your protection:
Replacement Cost vs. Actual Cash Value
How your property is valued makes a significant difference in your claim payment:
Replacement Cost
Pays to replace damaged property with new items of similar kind and quality—no deduction for depreciation.
Example: Your 5-year-old computer is destroyed in a fire. Replacement cost pays $1,200 for a comparable new computer.
Actual Cash Value (ACV)
Pays the depreciated value of property—what it was worth at the time of loss, not what it costs to replace.
Example: That same 5-year-old computer might only pay $400 under ACV after depreciation.
Our Recommendation: Replacement cost coverage costs more but provides significantly better protection. The difference in premium is usually small compared to the difference in claim payments. We recommend replacement cost coverage for most businesses.
Who Needs Commercial Property Insurance?
Any business with physical assets needs commercial property coverage. If you own or lease a building, have equipment, maintain inventory, or have made improvements to your space, you need this protection.
Retail Stores
Inventory, fixtures, signage, point-of-sale systems
Restaurants
Kitchen equipment, refrigeration, furniture, decor
Manufacturers
Machinery, raw materials, finished products
Office-Based Businesses
Computers, furniture, tenant improvements
Warehouses
Stored inventory, shelving, loading equipment
Contractors
Tools, equipment, materials, office space
Real Claims Examples
See how commercial property insurance responds in common scenarios:
Fire Destroys Restaurant Kitchen
Scenario: A grease fire spreads through a restaurant kitchen, destroying cooking equipment, refrigerators, and causing smoke damage throughout the dining area.
Coverage: Commercial property pays $180,000 to replace kitchen equipment, $45,000 for dining room restoration, and $30,000 for smoke damage cleanup. Business income coverage pays $60,000 in lost revenue during the 3-month rebuild.
Burst Pipe Damages Office
Scenario: A frozen pipe bursts over a weekend, flooding an accounting firm's office and destroying computers, files, and furniture.
Coverage: Commercial property covers $35,000 in computer equipment, $12,000 in furniture replacement, $8,000 for carpet and drywall repairs, plus water extraction and drying services.
Storm Damages Retail Store
Scenario: A severe thunderstorm blows out windows, allowing rain to damage inventory and fixtures in a clothing boutique.
Coverage: Commercial property pays $25,000 for window replacement, $40,000 for damaged inventory, and $15,000 for fixture repairs and cleanup.
Theft of Equipment
Scenario: Burglars break into a construction company's warehouse and steal $50,000 worth of power tools and equipment.
Coverage: Commercial property pays for the stolen equipment at replacement cost, plus $3,000 to repair the damaged entry door and security system.
What Affects Your Premium?
Commercial property premiums depend on many factors specific to your situation:
Building Value & Age
Older buildings may cost more to insure due to outdated electrical, plumbing, or structural systems
Construction Type
Fire-resistant construction (masonry, concrete) typically costs less to insure than wood-frame buildings
Location
Proximity to fire stations, flood zones, crime rates, and coastal areas all affect pricing
Security Systems
Alarms, sprinklers, surveillance cameras, and security services can reduce premiums
Property Value
Higher values for building, equipment, and inventory mean higher premiums
Claims History
Previous property claims can increase your rates for several years
Ways to Lower Your Premium: Installing fire sprinklers, security systems, and surveillance cameras can significantly reduce your rates. Choosing a higher deductible also lowers your premium—but make sure you can afford the deductible if you have a claim.
Get Your Commercial Property Quote
Protect your business assets with the right property coverage. We'll help you find comprehensive protection at a competitive price.
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Ryan Parrack Insurance
Serving Elkins, Buckhannon & Northern/Central WV
Elkins, WV