Get a quote


Join Our Distribution List Today!

Need help managing your business risks during COVID-19? – CLICK HERE FOR INFO YOU CAN USE
ALIGNED Insurance

Call Toll Free

Get Small Business Property Insurance Quotes + Brokers

Small Business Property Insurance Insight  |  Plan An Annual Inventory 

Are you aware that a standard property policy can provide coverage for extended perils? This can include floods, windstorms, hail, earthquakes, acts of terrorism, explosion, riots, smoke, civil commotions as well as vehicles that damage your small business property.

In fact, basic small business property insurance can cover losses due to fire or lightning, including the cost of removing property as a way to protect it from further damage. Beyond extended perils, you can include vandalism and malicious mischief among your small business property coverages.

Replacement Cost Value vs. Actual Cost Value For Small Business Property Insurance
A typical small business property insurance policy will provide the replacement cost value for your building and the actual cash value for your business property.

  • Actual cost value is the value of your small business property when it is damaged or destroyed. This amount is typically determined by subtracting the depreciation from the replacement cost value.
  • Replacement cost value is the amount that is necessary to replace or rebuild your small business building or repair damages with similar materials, without considering depreciation.

[DYK?] The coinsurance clause in your small business property insurance requires you, the policyholder, to share the cost of covered services up to a moderate percentage of the actual cash value of the property. This will allow you to receive full coverage for your losses. Without adequate coverage, you may be obligated to pay a percentage of all losses, even if they are listed in the policy.

Types Of Small Business Property You May Need To Insure
Taking an annual inventory of your small business property insurance requirements can help to ensure your coverage is aligned with your current needs. Property that you may want to consider includes:

  • Buildings and other structures (leased or owned)
  • Business contingency for suppliers
  • Cargo
  • Electronic data processing equipment (computers, etc.)
  • Extra expenses as a result of loss
  • Furniture, equipment and supplies
  • Intangible property (goodwill, trademarks, etc.)
  • Inventory
  • Leasehold improvements and betterments you made to a rented premise
  • Mobile property (construction equipment, etc.)
  • Money and securities
  • Ordinary payroll
  • Property in transit
  • Records of accounts receivable
  • Machinery/boiler
  • Valued documents, books and papers
  • Satellite dishes
  • Signs, fences and other outdoor property not directly attached to the building
  • Valued documents, books and papers

ALIGNED Small Business Property Insurance  |  1-866-287-0448
Across Canada, our small business insurance brokers can help ensure you have the best small business insurance, including property liability coverage. Talk to us about the best property liability insurance solutions.

We can help you get quotes for small business property insurance today.  100% Canadian owned, we serve more than 1,600 clients across the country through offices in Toronto, Calgary and Vancouver and a National Operations Centre in Cambridge, Ontario.

Related Posts

Cargo Insurance Quote - Get ALIGNED With More Options

Commercial Property Insurance Terms

Commercial Property Insurance Terms Click Here For A Property Insurance Quote or Call us toll free at 1-866-287-0448 There are […]

Read more

Transactional Insurance

Aligning Insurance Experts to Business Needs

Making the right decision when it comes to selecting the best and most appropriate business insurance coverages is something that […]

Read more

Unoccupied Property Insurance

Away 4 Days? Get Unoccupied Property Insurance

Away For 4 Days? Get Unoccupied Property Insurance. As your business needs evolve, so may your property requirements. If your […]

Read more

property management

Property Management Tips

Property Management Tips To Protect Physical Assets Security can be a scary prospect for property management companies. While you want […]

Read more



Small Business Property Insurance

General Liability Insurance

Insurance Blog & Info