What Does Commercial Property Insurance Cover?

The schedule, locations, and exclusions determine which assets qualify; business-income coverage may need to be added. A policy may cover property you own or lease, but the schedule and definitions control which property and locations are insured. The cause of loss must also qualify under the selected form: a named-peril form lists covered events, while a special form generally covers direct physical loss unless excluded.

Before relying on a quote, compare the property schedule, covered causes, valuation basis, limits, deductibles, coinsurance terms, and any exclusions or endorsements. Ask whether business income or extra expense is included; physical property coverage by itself does not mean every interruption loss is insured.