For any business with heavy investment in facilities, equipment, supplies or other physical assets, property and casualty insurance provides peace of mind and protection. Having the right policy for your business ensures that even the most catastrophic of events are protected against when something goes wrong.

Sometimes called commercial property insurance of business property insurance, a good Property & Casualty insurance policy is designed to protect your property, inventory and assets against potential loss or damage from theft, accidents or other means. This policy will cover many factors, including the cost to replace or repair property, or compensate for items that cannot be replaced. Often purchased with General Liability insurance as a Business Owner’s Policy package, Property & Casualty is one of the two most common types of insurance purchased by business owners.

There are a number of factors to consider before purchasing Property & Casualty insurance for your business. Whether you own the property on which you operate is an important factor, as is your level of investment in fixtures and other components in your business. Additionally, you should consider:

• Variability depending on replacement cost or actual cash value coverage. This will vary by policy and your business needs.
• Premium costs can vary as well depending both on the type of policy listed above and the nature of your business, assessed risk and business and claim history.
• If you lease equipment, your leaseholder may require you to have a certain level of coverage as well.