Property Insurance

About Commercial Property Insurance

Property insurance as we know it was born after London's Great Fire of 1666 and spread to America when Benjamin Franklin founded the Philadelphia Contributionship in 1752, introducing inspections and building requirements that still influence underwriting today.¹

ISO released the first Building and Personal Property Coverage Form in the 1980s, standardizing COPE (construction, occupancy, protection, exposure) data collection and paving the way for today's blanket limits, agreed-value endorsements, and time-element coverages.²

In 2025, U.S. reconstruction costs are up 6.2% year over year, driven by labor and electrical components, so we benchmark every Rockland County schedule against current valuations before marketing your account.³

Coverage Highlights

Commercial property programs protect physical assets and cash flow so one loss doesn't derail your business plan.

• Building & Tenant Improvements: Covers structures, HVAC, signage, and fit-outs whether you own or lease the premises.¹
• Business Personal Property & Stock: Insures equipment, furniture, and inventory on-site or in temporary locations, including spoilage and off-premises property.²
• Business Income & Extra Expense: Keeps payroll, debt service, and relocation costs funded during repairs; contingent time-element options extend to key suppliers or customers.³
• Equipment Breakdown & Service Interruption:  Addresses surge damage, boiler/machinery failure, and resulting loss of utilities that standard property forms exclude.⁴
• Ordinance or Law, Debris Removal, & Pollution Cleanup:  Pays for mandated demolition, code upgrades, and environmental remediation after a major loss.⁵
• Named Peril & Deductible Engineering: Tailor wind, hail, flood, or quake deductibles to cash-flow tolerance, and consider parametric or layered programs for high-value sites.⁶

Rising Costs

NOAA has already logged 17 U.S. billion-dollar disasters through September 2025, putting this year on pace to match 2023's record 28 events and pressuring property insurers' catastrophe budgets.¹

Marsh reports that U.S. commercial property rates rose another 7% in Q2 2025 (the 27th consecutive quarterly increase), with insurers pushing higher wind/hail deductibles and requiring updated valuations plus secondary wind data before quoting.²

Supply-chain challenges linger: Associated Builders and Contractors note that nonresidential construction input prices remain 32% above pre-pandemic levels, so insurers scrutinize reported replacement cost to avoid underinsurance.³

Cheaper Premiums

• Harden roofs & openings: IBHS research shows compliant roofs cut wind losses up to 35%, and carriers often reward retrofits with deductible or rate credits.¹
• Deploy smart water monitoring: FM Global testing indicates IoT leak-detection can prevent 70% of non-weather water losses in commercial facilities, saving both deductible dollars and premium.²
• Submit complete COPE & valuation data: Carriers provide better terms when they receive verified square footage, roof ages, fire protection, and replacement-cost studies up front.³
• Consider layered or parametric structures: Splitting limits among multiple carriers or adding parametric triggers can lower total cost of risk for properties with high catastrophe values.⁴
• Maintain testing & documentation: NFPA 25-compliant sprinkler inspections and UL-certified alarm monitoring demonstrate loss control rigor and can earn risk-management credits.⁵

What We Do

We work with top carriers who specialize in property risks, negotiating terms and coverages that fit your operations and budget. Our team reviews policy forms to identify savings opportunities and coverage gaps, ensuring your assets are optimally protected.