CUSTOMER ACCESS
Illinois Commercial Property Insurance
If you own a small to medium-sized business in Illinois, one of the considerations you must make is having commercial property insurance. Without it, your business may be exposed to liabilities that are outside of your control and you may realize a loss if bad situations happen. The Clemens Insurance team has been around since 1948, helping small to medium-sized businesses reduce their potential liabilities by protecting their business property against loss.
Looking for great property insurance coverage rates? Each business is unique, we would love to sit down and customize a plan tailored exactly to your business’s specific needs.
What is Commercial Property Insurance?
In general, commercial property insurance (also referred to as “commercial building” or “commercial landlord” insurance) aids in protecting a business against natural disasters and damages caused primarily by weather or fire. In the event of a qualifying natural disaster, storm, or fire, the business can minimize financial loss by having damages and losses paid for.
There are three main types of building insurance for companies. Your company’s situation may be unique and you may need the help of a licensed insurance agent. If you have any questions, you can always call our office.
Types of Coverage
“Perils” is a term that describes different causes of damage. Each policy will cover different perils and each business may need different perils covered, depending on their situation and ability to handle risk & liability.
Basic form policies: The most common form of business property insurance, covers fires, storms, and common non-winter weather damage. This may be right for your business if you need the minimum amount of coverage and are okay with exposing yourself to specific weather-related problems.
Broad form policies: A broad form policy will cover the same perils found in a basic policy, with the addition of damage from a winter storm, structural damage, or even inside sprinkler leakage. For businesses located in Illinois & McLean County, this is often the desired coverage as the Midwest winters can bring sudden winter storms that can leave a business exposed.
Special form policies: These property insurance policies will typically cover everything above, with the addition of any liability that is usually unique to the business. When meeting with your insurance broker or agent, be sure to go over and ask questions about liabilities that may be specific to your business.
For commercial property insurance rates & quotes, talk to a member of the Clemens Insurance team today! We will help your business quickly get approved and covered under a quality commercial insurance plan, allowing you to continue focusing on growing your business!
2806 E. Empire St.
Bloomington, IL 61702
Connecting businesses in Mclean County, Illinois with quality commercial property insurance since 1948.