COMMERCIAL PROPERTY Here are some categories to consider:
Property insurance can make you whole in the event you sustain a loss to any business property, be it a truck, store fixtures, inventory, raw materials, and so on. Cargo coverage can also be secured to cover the cost of any losses to inventory or goods on board your company truck.
Crime Insurance: Is designed to cover specific risks you may have in your business. These can range from burglary coverage for your safes to off-premises robbery of your bookkeeper en route to make a bank deposit. Coverage can be obtained to protect you against embezzlement, employee theft, and inventory losses resulting from criminal activity as well as "mysterious disappearance." Crime insurance is generally quite expensive.
Fire and Extended Coverage: Basic fire policies are standardized in the US. They cover fire and lightning, but exclude theft. Extended coverage is almost always purchased with a standard fire policy. Policies can be purchased that will also protect your accounts receivable records, computer files, currency, securities, and valuable papers. Flood losses, however, must be insured separately. Flood coverage, naturally, varies depending on your geographic location and hence cannot be standardized nationally.
Inland Marine: is a rather misleading name for a type of coverage used to protect high risk, mobile items of stated value that are not covered by your plain-vanilla commercial property policies. Inland marine coverage can protect valuable tools, for example, if you're a mechanic or tradesman, artwork if you operate a gallery, or a jewelers inventory.
But the important thing to remember about inland marine coverage is that it covers property in transit or mobile property, whereas standard property insurance normally covers items located within 100 feet of a specific physical address. Coverage can also be tailored to meet individual needs with rent insurance, fire sprinkler coverage, boiler, machinery etc.
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