West Virginia Commercial Property Insurance

In 2019, businesses in West Virginia collected nearly $1.7 billion in insurance claims. Many of these claims were due to lost or damaged property. If you are a business owner here in The Mountain State, you can protect the investment you have made in your company’s assets with commercial property insurance.

Independent agents are available to help you find the best property insurance for your business. Because they work for you instead of for an insurance company, these agents are free to shop around to find you great coverage at a competitive price. Contact an insurance agent near you to get started.

Who in West Virginia Needs Commercial Property Insurance?

Any West Virginia business that owns property can benefit from having a commercial property insurance policy.

Commercial property insurance is not typically purchased as a stand-alone policy. Instead, it is included in either a business owners policy (BOP) or a business insurance policy.

How Much Does Commercial Property Insurance Cost in West Virginia?

Commercial property insurance premiums can vary from one business to the next. Rates are calculated according to several factors such as:

• Whether you own or rent the building in which your business is housed
• The kinds of property you want to insure and its overall value
• The crime rate and weather risks where your business is located
• Your company’s claims history

On average, businesses in West Virginia spend about $65 a month for their commercial insurance coverage.

The only way to find out how much property insurance will cost for your particular business is by requesting customized quotes from a few competing insurance carriers. Independent insurance agents can do the comparison shopping for you.

What Business Assets Does Commercial Property Insurance Cover?

Commercial property insurance can cover nearly all of your business-owned property. Its coverage includes:

• Office supplies
• Desks, chairs, and other furniture
• Merchandise and inventory
• Tools, equipment, and machinery
• Display cases, shelving units, and outdoor signs
• Landscaping and décor

This is not an exhaustive list. Your insurance agent can help you review your coverage to ensure that all of your business assets are suitably covered.

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What Hazards Does Commercial Property Insurance Cover Against?

Commercial property insurance is designed to cover you against most of the hazards you are likely to face as a business owner in West Virginia. Covered events include:

• Fires and explosions
• Storms (including electrical storms, windstorms, and hailstorms)
• Severe winter weather (including heavy snows, ice accumulation, and prolonged freezing temperatures)
• Property crimes (including theft, vandalism, and arson)

You can learn more about the types of hazards your commercial property insurance can cover against by consulting a local independent agent.

What Doesn't Commercial Property Insurance Cover?

As with any insurance product, commercial property insurance has a few exclusions. Your policy will not cover:

• Damage-related liability costs. This is instead covered by commercial general liability insurance.
• Damage to company-owned vehicles: This is instead covered by the comprehensive or collision insurance included in your commercial vehicle insurance policy.
• Damage caused by floods: Flood damage is specifically excluded from commercial property insurance coverage. For this you will need a supplemental flood insurance policy.
• Property lost due to employee theft: You can get coverage against employee theft and dishonesty through fidelity bonds.
• Property owned by tenants. If you own a commercial building that is occupied by tenants, they will need to purchase their own property insurance.

A local independent agent can further explain your policy’s exclusions and limitations and can help you obtain any additional coverage you may need.

How Can I Find the Best Commercial Property Insurance in West Virginia?

If you are looking for the right insurance policy to cover your business property, a local independent agent can help. These experienced professionals are ready to answer your insurance-related questions, provide trustworthy advice, and shop around to find you great coverage at a competitive price.

There are more than 100 independent agents in West Virginia. Arrange a one-on-one consultation with an insurance agent near you to start comparing customized commercial property quotes.