Property insurance can cover the buildings that you own and/or business property and inventory against physical loss or damage.

If you don't own your building, you'll still need contents coverage. In most policies, property insurance for business contents covers furniture, fixtures, inventory, office equipment and other supplies stored at your facility or off-premises. You may insure those items for replacement cost or for actual cash value (ACV), which pays only for the depreciated value of the property.

Replacement cost policies have higher premiums, however they can help your business recover from a loss faster, since you can replace all of the lost or damaged property with new items. If you lease some of the equipment at your business, the leasing company may require that you insure the property at replacement value.

Liability insurance is designed to protect businesses against losses even if they are negligent or liable for damage and if there is injury or loss to anothers property, reputation, or health. Typically, when a claim is filed against a business, damages, legal defense fees and settlement charges are paid by the insuring company.

Bodily Injury - Liability coverage may pay the affected person or firm for the cost of care, the loss of services and restitution for death that results from an injury.

Property Damage - In the event your business causes damage to, or causes the loss of use of someone else's property, property damage coverage may pay for the value of the physical damage to the property; or the loss of use of that property.

Products and Completed Operations A policy may provide coverage for your company's completed products or services. If an injury occurs due to the use of your products or services provided, the policy would pay for the resulting damages and any legal expenses up to the policy limits.

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