Commercial property insurance protects a commercial building and its contents—such as inventory, computers, telephone systems, documents, furniture, HVAC systems, machinery, and equipment—as well as exterior features such as signs, fences, gates, lighting, and landscaping—from damage caused by fire, burst pipes, storms, theft, and vandalism.
Damage caused by earthquakes and floods is generally not covered by a commercial property insurance policy unless coverage for those natural disasters is added to the policy.
In North Dakota, commercial property insurance is designed to safeguard businesses against the loss or damage of physical assets such as buildings, equipment, inventory, and other property essential to business operations. Standard policies typically cover risks like fire, theft, vandalism, and certain weather-related damages. However, it's important to note that common commercial property insurance policies do not automatically cover all natural disasters. Specifically, damage from earthquakes and floods is usually excluded. Business owners in North Dakota interested in comprehensive protection must often purchase additional coverage or separate policies to insure against these particular risks. As insurance regulations can vary and policies can differ among insurance providers, it's advisable for business owners to consult with an attorney or insurance agent to understand the specific terms and coverage options available to them.