commercial property insurance coverage in Orlando

3 Types of Commercial Property Insurance

Depending on your location, type of business and risk exposure, you may need one or more types of commercial property insurance coverage in Orlando. There are three types of coverage: Basic, Broad and Special. It is essential to review and understand the coverage with your agent before signing the binding policy. This can help prevent unexpected gaps in coverage.

1. Basic

Basic form commercial property insurance is typically the least expensive and least comprehensive policy. It covers only the perils listed, so it should be selected with care. Some covered items may include:

• Fire
• Lightening
• Hail
• Vandalism
• Sinkholes

2. Broad

Broad form policies generally cover the same perils as the basic and adds coverage for several hazards such as:

• Frozen/Burst Pikes
• Accidental Water Damage
• Falling Objects (Trees)
• Break-in damage/burglary

3. Special

The most comprehensive of the three options, this type of policy lists excluded perils, rather than those that are covered. Depending on your company’s needs, bundled policies can be used ensure risk is minimized. Some common exclusions include:

  • Earthquake
  • War
  • Power Failure
  • Flood

Selecting the right commercial property insurance in Orlando can be confusing. Talking with an experienced insurance specialist can help you evaluate your needs, ensuring you get the coverage that minimizes your organization’s exposure to risk and prevents costly claims.