Best Commercial Property Insurance Companies for 2019

Learn about costs, how commercial property insurance works, and how customers rate the best commercial insurance providers.

Updated on November 18th, 2019

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Commercial property insurance is a type of insurance that businesses can purchase to protect their property. Coverage from commercial property insurance extends to buildings, equipment, inventory and all other physical assets of a business.

Our Pick

Coverwallet

Commercial Property Insurance

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Best Commercial Property Insurance:

Our Ranking

Company

Average Customer Rating

1.

CoverWallet

4.9/5

2.

Hiscox

4.7/5

3.

Progressive

4.6/5

4.

The Hartford

4.5/5

5.

Nationwide

4.5/5

6.

Insureon

4.5/5

7.

State Farm

4.3/5

8.

Trusted Choice

4.2/5

9.

Foremost

4.2/5

10.

Allstate

4/5

11.

MetLife

3.6/5

FAQs:

How much does commercial property insurance cost?

Commercial property insurance for a small business can cost between $500.00 and $3000.00 per year. Average property insurance for small business costs $745.00 per year.

See our full list of customer-rated commercial property insurance providers.

How is commercial property insurance calculated?

It is calculated by the value of the property you want to insure, or the value you want to cover. It is typically $1,000 per million dollars of coverage.

Why do I need commercial property insurance?

You need commercial property insurance if you have a commercial property and you want to be able to replace or repair your business's physical assets in case of fire, theft, natural disaster or other events.

What does a commercial property insurance policy cover?

Commercial property insurance covers a business's physical assets from fire, water damage, storms, theft, and vandalism. Typically, natural disasters, such as earthquakes and floods, aren't covered by commercial property insurance unless a business adds it to its insurance policy.

Commercial Tenant Property Insurance

What is commercial tenant property insurance?

Commercial tenant property insurance can be purchased by businesses that rent a facility on a commercial property. A tenant policy provides insurance coverage to the business so that the owner of the property doesn't need to carry the risk.

How much does property insurance cost for a small business?

Small businesses pay an average of $745.00 per year for property insurance. Your quote may not reflect the average business property insurance cost as it depends on the value of your commercial property, and how much of it you want to insure.

Is there a commercial property insurance calculator?

There isn't a standard calculator for business property insurance because the cost has different factors, depending on your business. Some insurance companies have better commercial property insurance rates than others. Get quotes from different insurance agencies to find the best rate.

Does commercial property insurance coverage include building insurance?

Most commercial property insurance policies include commercial building insurance. However, if you own commercial property that does not include a building, you can have this coverage excluded from your policy.

What qualifies as business personal property?

Business personal property is anything that is personally owned by the business owner but is used in the operation of the business. This can include things like buildings, equipment, and furniture. Business personal property insurance can be included in your commercial property insurance policy.

Commercial Property Insurance Companies

What are the best commercial property insurance companies?

Can I get commercial landlord insurance quotes online?

Online quotes are very common in the insurance business. Companies like The Hartford offer free, no-obligation online quotes for comprehensive property insurance and commercial landlord insurance policies.

Is commercial real estate insurance the same as commercial property insurance?

Commercial real estate insurance is specifically for real estate assets, but commercial property insurance is a more general type of coverage that may include real estate and other physical property owned by a business.

What are the average commercial property rates by state?

Data is not readily available for each state, but according to our research, small businesses in the U.S. pay an average of $745.00 per year for commercial property coverage.