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 Utah, commercial property insurance is designed to safeguard businesses against the loss or damage of physical assets such as buildings, equipment, inventory, furniture, and other property essential to business operations. Standard policies typically cover perils like fire, theft, vandalism, and certain weather-related damage. However, it's important to note that standard commercial property insurance policies do not usually cover earthquake and flood damage. Business owners in Utah may need to purchase additional coverage or separate policies to protect against these specific risks. Insurers in Utah offer various options for adding such coverage, and it's advisable for businesses to assess their risk exposure and consult with an attorney or insurance agent to ensure they have adequate protection tailored to their specific needs.