Edmonton Commercial Property Insurance
A business is like a machine; it’s made of a complex series of parts, all working together to produce successful results. But if one of those parts breaks down, it throws the whole machine out of order. If your commercial property is damaged, how will you operate your business?
You rely on your commercial property, its contents, and physical assets to run your business. That’s why you need commercial insurance for your property. But how do you find the right coverage for your company?
At Westland Insurance, our expert advisors can help you manage risks and minimize losses. Protect your business from unforeseen events with Edmonton property insurance.
What Does Commercial Property Insurance Cover?
How much coverage will your policy include? Depending on which insurance option you choose, your property insurance will provide coverage for the following insured losses:
If you operate a storefront, your business is full of supplies, equipment, and products. You rely on your inventory to run your business; if those items are damaged, the replacement costs can be detrimental to your business. Repair or replace your inventory with this insurance coverage.
After an insured loss (such as theft, fire damage, or vandalism), this policy will cover your business for the financial impacts. It includes replacement costs for the most important elements of your business, including property damage.
Your profits depend on your physical assets: The state of your property, your shop inventory, and the working conditions of your employees. But what if your commercial property needs urgent repairs? If your business is uninhabitable for some time, interruption insurance will cover the costs of employee wages, income, and other expenses.
Downtime is costly for your company. After a loss, you may require additional time to replace the essential assets of your business. Minimize your losses by purchasing recovery time insurance.
You can also choose enhanced coverage options that go beyond standard property insurance. If you’re interested in more comprehensive coverage, contact one of our insurance advisors today.
Who Needs Commercial Property Insurance?
Without your physical assets or property, your business risks suffering a loss that can greatly impact your finances. Resume your business operations quickly and minimize your losses with insurance.
Whether you run a small business or a multi-location retail franchise, you can benefit from business insurance. It’s a wise investment for all businesses, large or small.
What Is the Cost of Commercial Property Insurance in Edmonton?
The cost of your Edmonton commercial property insurance is affected by several factors, including:
- Property location
- Building construction
- Value of business assets & equipment
- Age of building & recent upgrades
- Occupancy
- Claims & insurance history
- The total value of the building
Popular Neighbourhoods in Edmonton for Small Business
Thinking of starting a business in Edmonton? Given the size of this city, you have plenty of neighbourhoods to choose from. How do you pick a spot where your new business will thrive? Check out the following popular neighbourhoods for small businesses:
- Terra Losa
- Queen Mary Park
- Pembina
- Queen Alexandria
- Sherwood
- Boyle Street
- Stratchana
- Summerlea
- Westmount
- Downtown Core
- Garneau
- Oliver
Is Commercial Property Insurance Mandatory?
Even though this insurance isn’t required by law, we strongly recommend it; it’s an investment in the safety and stability of your company. Running a business without commercial property insurance is like driving a car without a seatbelt; it’s taking a risk that no one recommends.
Not sure how much coverage you need? Be sure to factor in the size of your building, the value of your inventory, and furnishings. If you operate your business out of a new building or have a large product inventory, you can ask your insurance company about expanding your policy limits.
Request a Business Insurance Quote Today!
Protect your business property with commercial insurance. We can help you with other types of business insurance, including errors & omissions insurance, commercial general liability insurance, directors & officers liability insurance, and commercial auto insurance.
At Westland Insurance, we offer our services in the following areas:
Are you seeking comprehensive coverage for your business? Our advisors can help you find the right coverage at a great price. To request a business insurance quote for your property, contact us today!
We’re Here to Help
Whether you’re looking for insurance for your first home or wanting to discuss your existing policy, our team is ready to help. Connect with us today.
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