Commercial Property Insurance for Your Business
Commercial Property Insurance can be contained within a package
policy, a business owners policy, or on a stand alone property program depending on the nature of your New York business and the property to be insured.
Commercial Property Insurance Can Protect:
- Business Personal Property, often called contents
- Furniture & Fixtures
- Machinery & Equipment
- Raw Materials & Finished Product
- Business Income or Business Interruption
- Structures in the Course of Construction
- and more
The perils insured against are commonly “All-Risks” from physical loss, but that doesn’t include the common perils of Flood and Earth Movement which are usually purchased by endorsement or as a separate policy.
A Few Important Points About Property Insurance:
It’s important to make sure you have sufficient insurance to value – we can help you understand the difference in valuation clauses as well as what co-insurance means to avoid penalties for under-insurance at the time of a New York Property Insurance claim.
Deductibles may play an important role in reducing costs, by retaining higher levels of risk you may save on your premium.
Business Income protection is vital for surviving a loss! If your Business Income protection is found under a BOP policy it likely will provide 12 months of coverage for your actual loss sustained, without a specific dollar limit, which is great….. unless it takes longer to rebuild and get back into business! If you’re business is insured under a package policy or stand alone property insurance policy, where the limit for Business Income is stated as a dollar limit with a Co-Insurance percentage than it’s imperative that you complete a Business Income worksheet annually to determine proper values, including extra expense values.
As mentioned, Flood and Earthquake perils are normally excluded so broadening your protection to include them is worth consideration.
Boiler & Machinery or Equipment Breakdown, as it’s commonly called today can often be endorsed onto your property insurance policy which will provide broad protection from mechanical breakdown coverage to any electrically or mechanically driven machinery in your business, including air conditioning systems, boilers, production machinery and other equipment.
From simple retail establishments to complex property risks, we have the experience and market knowledge to be able to assemble the right coverage for your business both domestically and internationally. For difficult to place risks we access the domestic, London and Bermuda marketplaces on behalf of our clients to structure primary and excess layered programs as required.
Here to Help with New York Commercial Property Insurance Needs
Since 1929, The Coyle Group has been serving businesses with Commercial Property Insurance needs in the Rockland County communities of: New City, Nanuet, Haverstraw, Pearl River, Stony Point, Suffern, West Nyack, Congers, Valley Cottage, Nyack, Orangeburg, Blauvelt, Palisades, and Chestnut Ridge; the Orange County communities of: Goshen, Pine Bush, Middletown, Newburgh, New Windsor; the Westchester County communities of: White Plains, Yonkers, New Rochelle, Bedford, Elmsford. And in New York City – Manhattan, Bronx, and Brooklyn.
For more information regarding Commercial Property Insurance, please contact us in New City, New York by either calling 845-634-3606 or using the contact box above.