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Entrepreneurs in Boise, ID, with tangible property, such as buildings and land, may require commercial property insurance to adequately protect their investment. Various mishaps can occur, including severe storms, fires, and other unexpected events. If your properties are spread across diverse locations, monitoring them can be challenging. Fuhriman Insurance Agency can help you determine what you need to protect your real estate holdings sufficiently.
Understanding Commercial Real Estate or Property Insurance
This insurance protects your real estate company’s physical assets from unexpected events, including fire, theft, vandalism, and windstorms. The asset types covered by this policy can include buildings you own or rent, office equipment, furniture and fixtures, and other items necessary for daily operation. It can also cover the loss of business income resulting from physical property damage. This type of commercial policy enables you to recover quickly if your business needs to shut down due to an unexpected event. It can also help pay for damages if a covered event destroys land and buildings you manage.
Factors to Consider
When evaluating the need for commercial property insurance for your real estate business, consider the following factors:
- Location – Protection typically costs less outside of cities.
- Construction – Buildings constructed with less combustible materials are easier to insure.
- Occupancy – The use of your buildings or properties also affects their ratings.
- Fire and theft protection – The distance from fire services and the theft protections you have in place make a difference.
This insurance is necessary to protect more than just your land and buildings. Fencing, landscaping, satellite and communication devices, and similar items also fall under this protection.
If you’re wondering how commercial insurance can protect your real estate in Boise, ID, contact the professionals at Fuhriman Insurance Agency to schedule your consultation.