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Commercial Property Insurance

Commercial property insurance pays to repair or replace your building and business property damaged by a fire, storm, or other event covered by the policy. It can also pay some of your lost income if your business is unable to operate normally. 

Broad

Cover the causes of loss included in the basic form, as well as damage from leaking appliances, structural collapses, falling objects, and weight of ice, sleet, or snow.

Broad

Special

Provide the most coverage. These policies cover damage from all causes of loss, except those specifically listed in the policy. These are called policy exclusions. Most policies exclude damages from floods, earth movement, war, nuclear disaster, wear and tear, and insects or vermin.

Special

Replacement cost vs. actual cash value coverage

Commercial property insurance pays to repair or replace your building and business property damaged by a fire, storm, or other event covered by the policy. It can also pay some of your lost income if your business is unable to operate normally. 

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Replacement Cost

Pays to repair or replace your property at current costs. This means the policy will pay enough to rebuild your building and replace your property with new items, even if the cost is more than what you originally paid.

Replacement Cost

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Actual Cash Value

Pays replacement cost minus depreciation. Depreciation is a decrease in value because of wear and tear or age. If you have actual cash value coverage, the policy might not pay enough to fully rebuild your business.

Actual Cash Value

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