Property insurance
Find out if your company is eligible for this policy, which bundles general liability insurance and commercial property insurance at a discount.
Buying or renting an office is a big step for a small company – so you’ll want to make sure to protect your investment with office insurance. While commercial property insurance pays for damage to your building and belongings, you’ll likely need other policies as well.
Commercial property insurance covers a tech company's building and its contents. That includes furnishings, fixtures, computers, and other equipment and inventory.
The cost of commercial property insurance primarily depends on the value of the business property your tech company wants to insure.
The actual cash value is how much your business property is worth in its current state. This value is calculated by subtracting the depreciation from the replacement cost.
A rider is an insurance modification that adds extra protection to a policy and enables businesses to customize it to their specific needs.
A commercial property insurance policy that covers open perils protects your business possessions from most causes of loss or damage. However, this option is typically more expensive than a policy that covers named perils.
Named perils coverage is a type of business property insurance that only protects you from hazards and risks explicitly described in your insurance policy.
An insurance adjuster is someone who investigates claims to determine what an insurance company should pay.
Coinsurance refers to either a property insurance clause that requires clients to purchase adequate coverage or a joint insurance policy provided by multiple insurers.
Assessed value is an estimation of how much your property is worth. It is determined by your local city hall or a municipal assessor.
An insurance policy with all-risk coverage covers claims from all incidents that aren't specifically omitted in your contract.
Insuring your business's laptops, desktops, and other electronics is a necessity when you work in tech. Learn which policies include computer or laptop insurance.
Typically, you need to contact your insurance carrier directly when you want to file a commercial insurance claim. But the steps you take may differ based on whether you're filing a property claim or a liability claim.
