why you need business property Insurance

Learn More
Spot On Coverage

Business property insurance covers:

Owned or Leased Buildings
Business Property
Inventory

IT’S NOT REQUIRED BY LAW: 

Michigan law doesn’t mandate business property insurance, but lenders typically require coverage for mortgaged properties.  However, whether you own your business property outright or lease your space, insurance is essential for protecting your business property.

PROTECT YOUR BUSINESS’ PHYSICAL ASSETS: 

Helps protect your owned or rented building, inventory, the tools and equipment you use to operate your business, as well as exterior fixtures, such as a fence or outdoor sign.

PROTECT AGAINST BUSINESS INTERRUPTION:        

Helps replace your lost income in case you can’t operate your business because of a covered event.

PEACE OF MIND:

Less worries. More time to focus on growing your business.

Standard Business Property Coverages:

Business Goods & Gear  

Protects your business property, including furniture and equipment, for covered events.

Example: Someone steals your business laptop.

 

Inventory: 

Protects your inventory for covered events.  

Example: A pipe bursts and ruins everything in your stock room.

Buildings:      

Protects your owned (or leased) business buildings for covered events.

Example: Lightning hits a tree that falls on your roof causing damage.

Equipment Breakdown: 

 Protects your equipment if your business experiences a power surge or mechanical failure.

Example: Your HVAC stopped working and is not under warranty.                                                                                                                                                

Business Interruption:

 Protects you against loss of business income and related expenses for covered events.

Example: A fire damages your building and you shut down for 3 weeks to make repairs. 

Potential Savings to Explore:

Insurance discounts can differ depending on the insurance provider you select.  It is important to note that not all carriers offer the same discounts.

Flexi-Bundle™ & Save:

Flexi-Bundle™ Discount:  Combine up to four insurance products and select from up to four insurance carriers.

Frequently Asked Questions

Business Property Insurance is needed to protect small business owners who rely on equipment, inventory, or furniture to do business.

It can help if you:

  • run your business out of a physical location
  • own or lease equipment needed to run your business
  • maintain inventory
  • would have to close your business if damaged or destroyed by a covered event

Even if you rent space and don’t own the building where you run your business, you may still need Business Property insurance to protect you from loss or damage to your equipment, furniture, and inventory.

You have coverage for weather events like wildfires, tornados and windstorms that result in damage caused by fire, wind, and hail.

You need separate coverage for catastrophic events like earthquakes, volcanoes, and floods.

A Business Property Insurance policy covers your physical business assets (e.g., buildings, inventory, furniture, equipment). 

A BOP also covers your physical business with commercial property coverage. The difference is that a BOP packages business property coverage with general liability coverage.

General liability coverage is not part of a Business Property policy.

Yes. Business Property Insurance helps protect you if someone steals property from inside or within one hundred feet of your business.

However, if you have tools that travel with you from location to location for each job, you may need separate tools & equipment coverage.

You have two payment options:

Option 1:  Click the Carrier tab, scroll to locate your carrier. Most carriers accept online payments via check, credit card, or ACH.  Click on your carrier’s name and proceed to make your payment.

Option 2:  Click the Customer Center tab. Scroll down to find the Input1 icon. Input1 offers digital payment options, including ApplePay and eWallet.  Click on the Input1 icon, log in, and make your payment. 

Report The Claim by Phone:

  • Click on the Carrier tab.
  • Locate your insurance carrier.
  • Use the carrier’s claims phone number to report the claim.

Report The Claim Online:

  • Click on the Carrier tab.
  • Use the carrier’s claims website link to report the claim online.

Absolutely. We use secure encryption technology to keep your personal information safe. When it comes to your application, we never pull your data without your approval first. We will also never sell your data to any third party…ever.

If you have questions, you can call, text, email, or live chat with a real expert at Insurish who is standing by to help. No matter how you contact us, we will get back to you immediately. For help, click the Contact Us tab.

We offer insurance solutions for all your personal needs like auto, home, life, health & more. We also offer products for all your business needs, like liability, property, trucks & more. We don’t stop there! We also offer a wide array of car care and safety & security products.

I Know What I Need

I am ready to proceed.

Get Quotes

I Need More Information

Click on the “Spot on Coverage” button to learn more.

Learn More

I Want to Start a Flexi-Bundle

Click on the “Flexi-Bundle” button and save.

Flexi-Bundle

Please Note:

At Insurish, we provide general information on insurance products to help you grasp their different aspects. It’s important to note that this information isn’t an insurance policy and doesn’t pertain to any specific carrier’s policy. It doesn’t alter any provisions, limitations, or exclusions expressly stated in an insurance policy. Descriptions of coverages, discounts, and features are concise. For a comprehensive understanding of specific policy details, we recommend reading the applicable policy and consulting an Insurish agent. Coverages and features vary by insurer and state and may not be available in all states. Coverage for accidents or losses depends on the terms and conditions of the actual insurance policy. References to premiums, losses, deductibles, and costs are illustrative and may not apply to your circumstances. Insurish is not liable for the content of third-party sites linked from this page.