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 New Jersey, commercial property insurance is designed to offer businesses protection for their physical assets against loss or damage. This includes coverage for the building itself, its contents, and exterior features. Standard policies typically cover perils such as fire, burst pipes, storms, theft, and vandalism. However, it's important to note that certain natural disasters like earthquakes and floods are not usually covered under a basic commercial property insurance policy. Business owners in New Jersey may need to purchase additional coverage or separate policies to protect against these specific risks. The exact coverage details and exclusions can vary among insurance providers, so it's crucial for business owners to review their policies carefully and consult with an attorney or insurance agent to ensure they have the appropriate level of protection for their commercial properties.