Protect your assets to secure your business
When is this useful?
Creating and managing a business asset pool requires significant time and effort. It would be unfortunate to bear the costs of losses due to property damage, theft, or accidental spills on a MacBook.
What is commercial property or asset insurance?
Asset insurance protects your physical assets from unexpected damage. It includes repairing or replacing buildings, equipment, inventory, furniture, and fixtures if they are damaged by fire, theft, or other disasters. This insurance is essential for managing risks and ensuring the continuity of your business.
Why do you need commercial property insurance?
Asset Protection
Protects your physical assets from damage and loss.
Financial Security
Prevents significant financial loss from property damage.
Business Continuity
Ensuring smooth business operations after a loss event.
Risk Management
Helps in handling the inherent risks of owning business property.
Lease Requirements
Meets lease agreements that demand property insurance.
Employer Branding
Studies show companies with better risk management strategies attract top-tier talent
What does commercial property insurance cover?
Building Coverage
Insures your owned or rented building against damages.
Electronic Gadgets
Protects electronic and portable equipment from loss or damage.
Inventory Loss
Protects your inventory from loss or damage.
Natural Disasters
It covers damage from events such as fire, storms, or other disasters.
Theft and Vandalism
Protects business property from theft or vandalism.
Business Interruption
Provides coverage for lost income and additional expenses resulting from covered property damage.
Who should buy professional indemnity insurance?
New startups
Startups can be significantly affected by property loss or damage due to tight budgets. Asset insurance provides essential protection for them.
Growth Stage
As your business grows, your inventory and property also increase. Asset insurance offers essential protection as your operations expand.
Large Entities
Large organizations possess more assets to protect. A strong asset insurance policy is crucial to safeguard extensive physical assets and maintain business continuity.
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Commonly asked questions
How much does business insurance cost?
The price of business insurance varies based on several factors, such as business size, industry, location, and desired coverage limits. Use our recommendation tool to find customized policy options and cost estimates tailored to your business needs.
What does business insurance cover?
The scope of protection business insurance offers is determined by the policy you select. Typically, coverage includes property damage, liability issues, lawsuits from shareholders, and cybersecurity incidents.
Do companies belonging to specific industries particularly need business insurance?
Given that each business encounters its own set of challenges and liabilities, consulting with your insurance provider for a detailed understanding of common risks in your sector and strategies for their mitigation is advisable. Schedule a consultation with a Loop insurance specialist for personalized advice.
Why do I need business insurance?
Business insurance is crucial for defending your operation against unexpected financial threats. It can offset expenses related to property damage, liability claims, legal fees, and more, preserving your business's financial health.
Why should I choose Loop for Business Insurance?
- Offers immediate access to reputable insurers and cost-efficient plans.
- Ensures ongoing support and advice through direct connections with insurance experts.
- Provides significant influence and insight when dealing with insurance firms, especially for substantial claims.
