What is Commercial Property coverage?

Commercial Property Insurance is the form of insurance that covers direct and indirect losses related to properties other than one- to four-family dwellings and farm properties.
The main purpose of these coverages is as first-party coverage against economic loss arising from damage to tangible property, such as building structures and personal property associated with such structures.

There are several major Commercial Property Coverage forms:

  • Building and Personal Property Coverage Form
  • Builders Risk Coverage Form
  • Business Income Coverage Form
  • Extra Expense Coverage Form
  • Legal Liability Coverage Form
  • Condominium Association Coverage Form
  • Condominium Commercial Unit-Owners Coverage Form
  • Leasehold Interest Coverage Form
  • Farm Coverage

Each of these basic coverage forms can be written with one of the “Causes of Loss” forms which specify those perils for which coverage is granted.

There are (3) Causes of Loss forms commonly used in Florida:

  1. Basic
  2. Broad
  3. Special

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