Commercial Property Insurance

Commercial property insurance will indemnify you when you suffer a financial loss because property has been damaged or destroyed. Property is considered to be any item that has value. Property can be classified as real property or personal property.

Real property is land and the attachments to the land, such as buildings.
 Personal property is all property that is not real property.

The basic hazards in a commercial property insurance policy for your Oregon business will promise to pay for direct physical loss or damage to covered property at the premises described in the policy when caused by or resulting from a covered cause of loss. The following is a brief outline of how property is defined within the Commercial Building And Personal Property coverage form.

Buildings and Business Personal Property

Coverage for the building includes:

the building and structures

completed additions to covered buildings

outdoor fixtures and;

permanently installed fixtures, machinery, and equipment

The building material used to maintain and service your business premises is also insured. Business Personal Property owned and used by your business is covered for direct loss or damage. The coverage includes:

furniture and fixtures

stock, and;

several other similar business property items when not specifically excluded from coverage

The commercial property form is also designed to protect your business against loss or damage to the personal property of others while in the your care, custody, or control.