FDIC-Insured · Backed by the full faith and credit of the U.S. Government
Protects your owned or rented building, plus the tools and equipment you use to operate your business. It covers losses from many sources, such as:
Commercial building insurance helps protect your business’ physical assets, such as your:
If you own, rent or lease commercial property of any kind, then you should have commercial property insurance. Without it, you’d be responsible for paying the costs to fix or replace your damaged business property. Your policy can provide the replacement cost value, actual cash value or market value for your business property.
There are many different types of commercial property insurance that can help protect your business property from various claims. Including
Commercial property insurance isn’t required by law, but it is considered essential to most small businesses. Some rental or lease agreements may require you to carry commercial property insurance coverage.
Actual Cash value: How much it’d cost to replace an item, minus its depreciation (meaning how old it is or its condition
Replacement Cost: How much it’d cost to replace an item with something similar or the same
Fair market value: The cost of an item if it were to go on the market today
Be aware that your commercial property insurance policy doesn’t cover every type of property damage. This coverage can’t help your business if
If you’re looking for reliable business insurance in Iowa or a local insurance agency that understands the unique risks your business faces, State Bank & Insurance is here to help.
Contact us today to request a customized business insurance quote and speak with a local agent about protecting your employees, property, and operations.
