Commercial property coverage relates not only to the physical structure of your business and the contents therein, but more importantly and more likely it should extend to the additional losses that result from property damage or loss. Examples of commercial property coverage include: fire damage, wind damage, water damage, and theft. The Rettino Group can tailor a basic policy to cover your structure and basic equipment or a more comprehensive policy to cover insure lost revenue, cash on premises, accounts receivable, documents, data and more. Property coverage written one of two ways:
(1) Replace Cost
Replacement Cost refers to the exact amount of money needed to replace a piece of lost or damaged property.
(2) Actual Cash Value
Actual Cash Value refers to the actual value of the property TODAY of a piece of lost or damaged property. While Actual Cash Value can lead to lower premiums, this valuation does calculate depreciation of the asset. This could leave your equipment and other property only partial covered in the event of a loss.
Every business and every structure has specific exposures that should be evaluated on an individual basis. A one-size-fits-all approach to a businesses property rarely covers all exposures and is very rarely cost effective.