How much does commercial property insurance cost

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The cost of a commercial property insurance policy depends on many factors. Your premium will increase as you insure more real estate or business assets. If you choose a higher deductible, you can reduce the annual premium, but you should choose a deductible that you are comfortable paying. The location of your business property will also affect the price, since some neighborhoods are considered riskier than others. Small businesses pay a median of $67 per month, or about $800 annually, for commercial property insurance, according to Insureon.


The company says almost all of its customers (91 percent) choo jordan mobile phone numbers database se a policy with $1 million/$2 million limits. This means the insurer will provide $1 million in coverage per claim and $2 million in aggregate over the lifetime of the policy. FYI If your small business doesn’t have much personal property, consider purchasing a business owner's policy that combines general liability insurance and commercial property insurance. These bundles often save business owners money and cost as little as $680 annually with limited property coverage.


How do you get commercial property insurance? You can buy a commercial property insurance policy as a stand-alone policy or as a part of a business owner’s policy. Contact a commercial insurance carrier or a broker for a quote. To get an accurate price, you’ll need to have an idea of the value of the business property and other details, such as your location and the industry you serve. Once you have a quote that you are happy with, the next step is to bind the policy.