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As a business owner, you want to protect your company as much as possible. While a great security system will help deter theft, it’s not the only thing you need to protect your organization. The right business insurance policies will set you up for years of success and protection. However, understanding the difference between commercial building insurance and liability insurance can be a bit confusing, especially if you’re purchasing policies for the first time. The team at MP Davis Insurance Agency in Randleman, NC, wants to help. Below, they explain the difference between commercial building insurance and liability insurance and how each coverage option best protects your company.

Commercial Building Insurance

Commercial Building InsuranceCommercial property policies protect the physical components of your business. This includes the building itself, the furnishings inside, and any inventory housed on the premises. If a storm takes out the roof or a vandal steals equipment or inventory, your insurance policy would cover the cost of replacement. This means you’ll be able to reserve your operating budget for your actual expenses rather than using that money to help repair the damage. Keep in mind that you will need to pay a deductible when you file a claim with your insurance company.

Commercial Liability Insurance

Commercial liability insurance, on the other hand, does not cover physical property. Instead, it protects you and your employees from liability should a customer, client, or other individual get injured on your property. Without coverage, you’re responsible for paying any legal fees, medical costs, and other associated expenses if an accident occurs. With liability insurance in place, your insurance provider will help you, saving you thousands in out-of-pocket costs and helping keep your business running for years to come. In most instances, this insurance is not included in general commercial property coverage, but it can be added as one of your elective business insurance policies.

Let the experienced team at MP Davis Insurance Agency help you protect your company. Their agents will work with you to get to know your company and find the perfect coverage so you can rest assured that your business is protected. Learn more about commercial building insurance by visiting their website. If you’re ready to better protect your organization, call (336) 498-7606 to speak with an agent and get a quote today. 

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