When deciding what coverage to get for your office or retail space, the following should be considered:

• Standard fire and perils coverage is something one should definitely have. Almost all of the perils listed under Home Insurance can be applied to a business, including Earthquake and Flood protection.
• What if there is a fire and your store burns to the ground? Business Interruption coverage will provide you with continuous income while your claim is being handled and your store is being repaired. Accurate inventory tracking will assist in quickly coming to an agreement on a claim.
• Liability coverage is one of the most important types of insurance you can buy. Typically available in 1, 2, 3, or 5 million dollar increments, liability insurance protects you in the event that someone hurts themselves in your store, or is injured because of your product, and you are deemed responsible. The amount of coverage recommended is dependent upon the services you are providing; for example, a hardware store, filled with heavy, dangerous equipment, should have more coverage than a clothing store.
• If you are currently renting your space, you should consider purchasing Tenant Legal Liability coverage, which covers the space you are responsible for in your building. When renting, any improvements you do to your space should be insured by you as well. These are known as ‘tenant’s improvements’, and are your responsibility.
• Another important thing to consider is how your building is heated. If it has a boiler, then you will likely need "boiler and machinery" coverage. Standard policies normally exclude any coverage from a loss due to a boiler or pressure vessel.

As you can see, there are a lot of factors to take into consideration when purchasing business insurance, and these are just a few of them. Most business insurance coverage needs to be built to fit your needs, assembled out of several items into a whole. The specific operation of your business will determine what coverage you require. As with all lines of insurance, as a broker we work with many insurance markets to get you the best rates. Speak to one of our commercial insurance experts who will strive to make the process as simple and effective as possible for you.

* All coverages are subject to limitations and exclusions. Please speak to a licensed insurance agent, read the policy wordings and the certificate of insurance for definitions, limitations and exclusions.