Colorado Commercial Property Insurance

Commercial property insurance is similar to property insurance for consumers, providing coverage for a range of property-related risks including buildings, equipment, and inventory. Covered events often include fire, theft, vandalism, and natural disasters, though the scope of coverage and the events covered vary according to policy. Some commercial property policies may also include a business interruption component to help businesses recover lost income and help cover expenses in the case the business is unable to operate as a result of the damages to the property. Rates for commercial property insurance depend on a number of factors including location, the construction of the insured buildings, occupancy, and fire and theft protection. While commercial property insurance can be purchased alone, it is generally purchased in a bundle with other forms of commercial insurance.

Commercial property insurance is not legally mandated in Colorado or any state within the US, though some businesses may be required to have certain types of insurance in order to comply with their lease agreements, contracts, and permits. Additionally, businesses operating in specific industries, such as construction or manufacturing, may be required to have specific types of commercial property insurance in order to help protect them against risks specific to their industry. Whether or not it is a requirement, commercial property insurance is highly recommended for businesses in order to help them protect their physical assets and help reduce financial burden on the business when the unforeseen happens.