Question

Identify and describe 3 of the major property losses that a business faces, and how commercial property insurance protects against those losses.

Answer 1

major property losses that a business faces are:

1	Loss due to fire	Fire loss is an estimation of the total loss to the structure and contents in terms of replacement in like kind and quantity.
2	Loss due to Earthquakes	Nature's most unpredictable and one of her most devastating natural disasters. When high intensity earthquakes strike they can cause thousands of deaths and billions of dollars in damaged property.
3	Loss due to  flood	Floodings occur when an extreme volume of water is carried by rivers, creeks and many other geographical features into areas where the water cannot be drained adequately and causing a huge loss in property where it is affected.

Commercial property insurance protects your company’s physical assets from fire, explosions, burst pipes, storms, theft and vandalism. Earthquakes and floods typically aren’t covered by commercial property insurance, unless those perils are added to the policy.

Commercial property insurance covers your building, everything in it and just outside of it, including:

• Computers
• Furniture and equipment
• Exterior signs
• Fence and landscaping
• Important documents
• Inventory
• Others’ property