Commercial Property Insurance in Nevada, California, Arizona & Oregon
Mountain Pacific Insurance Services is an independent insurance agency located in Nevada & California. We provide high-quality insurance solutions to our communities in California & Nevada and to residents in Arizona & Oregon.
Commercial Property Insurance in Nevada
What is commercial property insurance?
Owning commercial property in Nevada is a major investment for any business. Commercial property insurance can help protect that investment from a variety of risks.
Commercial property insurance provides specialized protection for physical structures that a business owns. Supplies, inventory and equipment, within buildings are often also covered.
Most businesses that hold property in Nevada should protect their property with business property insurance. Few businesses could afford to repair or replace a building if it was substantially damaged.
Additionally, coverage isn’t necessarily limited to physical buildings only. These are generally the most common property to insure, but coverage is usually also available for specific items, raw land and other notable assets.
When any of these assets are under a loan, lenders typically require insurance to protect their financial interest in the property. Minimum coverage is often compulsory, and additional coverage is frequently recommended.
Business property insurance offers a variety of coverages designed to protect assets. These typically include:
Building Coverage: Might protect the main structure of the property, potentially along with any secondary structures.
Contents Coverage: Might protect items kept at the insured property, potentially including machinery, appliances, furniture, electronics, supplies, and inventory.
Tenant Improvements Coverage: Might protect modifications or enhancements made by a tenant to their rented space.
Exterior Signs Coverage: Might protect business-related signs, which might be attached to or detached from the main structure.
Whether coverage is specifically needed for exterior signs depends on a property’s signage, and on the building coverage terms of a policy. Some building coverage includes protection for attached signs and potentially detached signs, in which case additional sign coverage likely isn’t needed. Some building coverage only covers attached signs or no signs, in which case additional sign coverage might be needed.
An experienced insurance agent who specializes in these policies can help businesses determine their need for sign coverage, and also for all other coverages offered.
Business property policies normally doesn’t include liability coverage. Each business has unique liability risks that are often addressed more exactly through separate liability policies, such as general liability, professional liability, product liability or other liability insurance.
Commercial property policies normally cover property located at the insured premises only.
While some policies may offer limited coverage for off-premises items, businesses seeking extensive protection for property during transport or at other locations should consider additional insurance protections.
Inland marine insurance or builders risk insurance may be two to discuss with a knowledgeable insurance agent. An agent who’s familiar with commercial property policies will be able to assist with these coverages too.
Yes, commercial property policies can often be structured to cover multiple properties. To ensure each property is adequately covered, it’s important to review the policy terms with a knowledgeable agent.
The cost of insuring a commercial building or other property varies greatly, as it’s based on factors like the property’s location, size, usage, value and the materials used in its construction.
The easiest way to accurately determine how much insuring a particular property will cost is to work with an independent insurance agent. Independent agents can gather quotes for a property from multiple insurance companies.
How can businesses get commercial property insurance for properties in Nevada?
If you’re in need of commercial property insurance for a Nevada property, we at Mountain Pacific Insurance are here to help. Our independent insurance agents will work with you to understand your needs, then we’ll explore policy options from a variety of insurers. Together, we can find the best policy for your business’s property and assets.
This material is for informational purposes only. All statements herein are subject to the provisions, exclusions and conditions of the applicable policy, state and federal laws. For an actual description of coverage, terms and conditions, please refer to the applicable insurance policy or check with your insurance professional. The illustrations, instructions and principles contained in the material are general in scope and, to the best of our knowledge, current at the time of publication.