Commercial liability insurance often takes center stage, but did you know that your Canby, OR, business also needs specific insurance that protects the components of your physical building? If you own your building, your commercial insurance package likely includes commercial property coverage. Still, your policy package from Oliver Insurance should also cover building components, such as glass windows or the boiler.

What If Your Business Rents Its Space?

If a business rents or leases its space, the landlord’s insurance typically covers boiler breakdowns, broken plate glass windows, and vandalism. Check your lease to ensure it extends the landlord’s insurance coverage for the cleanup of vandalism that occurs while you occupy the building or rented office. You’ll need insurance covering your business furniture, equipment, and inventory. If damage occurs to any part of the building itself, your landlord is responsible for the repairs.

What If Your Business Owns Its Building?

If you, as the business owner, or the business as a corporation or LLC, own the building, you are responsible for repairs. Commercial property insurance covers many damages, but some require a specific policy. Coverage like glass policies, boiler insurance, and business property coverage protects against financial losses from these types of damage.

Glass policies cover plate glass windows, mirrors, etc. Dance studios, workout studios, and retail stores often purchase this type of policy due to the large amount of glass in their buildings. Boiler insurance covers a building’s boiler, furnace, etc. You can file a claim if a part breaks or the system fails. A business that owns its building also needs coverage for the furnishings, equipment, and inventory.

How Do You Know Which Coverage to Buy?

Don’t guess which policies your Canby, OR, business needs. Call or email Oliver Insurance for a commercial insurance review. Let us help you build a comprehensive commercial package that protects your financial investment.