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Business
Insurance
Commercial
Property Insurance
Commercial
property insurance pays the owner of property for its loss or
for the loss of its income-producing ability if the loss
results from a covered cause of loss.
The property insured is specifically described in the policy,
normally consisting of listed buildings and/or the business
contents of those buildings. Several types of property are
typically insured under other types ("lines") of
insurance.
Commercial property may be insured for a broad list of NAMED
"causes of loss;" e.g. fire, lightning, explosion,
wind, hail, etc. A more popular option is to insure commercial
property for ALL causes of loss except those that are EXCLUDED
in the policy.
The price of property insurance is heavily dependent upon the
type of OCCUPANCY, type of CONSTRUCTION of the building and
the public fire PROTECTION provided. Other pricing factors may
include the territory, private fire protection (extinguishers,
sprinklers, etc.), housekeeping and surroundings.
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