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Commercial Property Insurance from Massachusetts Agents

What is it?

Commercial property insurance helps protect assets, particularly while the assets are on a business’s premises. Coverage may extend to buildings, structures, equipment, inventory and more.

Who needs it?

Most businesses that own assets can benefit from the protections that business property insurance affords. Without insurance, replacing damaged or destroyed goods could bankrupt a business.

Possible Coverages

  • Building Coverage
  • Contents Coverage
  • Tenants Betterment Coverage


What is commercial property insurance?

Many Massachusetts businesses have made substantial investments in physical assets, and those investments ought to be protected when possible. Commercial property insurance can play an important role in helping protect buildings, equipment, inventory and other assets.

Commercial property insurance is specialized property insurance for businesses (rather than individuals). The insurance can be adapted to insure a wide variety of assets that businesses might have.

What Massachusetts businesses should purchase business property insurance?

Many Massachusetts businesses can benefit from business property insurance’s protections, for many businesses have assets that would be costly to replace. Any business that owns buildings, equipment, supplies, inventory or other assets of note should at least consider this coverage.

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Sometimes, purchasing business property insurance for certain assets may be compulsory. Lenders frequently require the coverage when a business leases or finances an asset, as the insurance helps protect the lender’s interest in the asset.

Commercial Property Insurance Massachusetts

What coverages are available through commercial property policies?

Commercial property policies might offer a few different protections, depending upon their terms and a business’s needs. Some of the more common coverages are:

  • Building Coverage: May cover primary and/or secondary structures at a business’s location
  • Contents Coverage: May cover equipment, inventory and other goods kept at a location
  • Tenants Betterment Coverage: May cover improvements that businesses make to leased space

Do businesses that lease commercial space need business property insurance?

Because business property insurance can protect more than just buildings, the coverage is still useful to businesses even if they lease their space. Depending on the terms of a business property policy, it might help protect improvements that businesses make to a leased space. The coverage can also extend to equipment, inventory and other goods, of course.

Do home-based businesses need commercial property coverage?

Whether home-based business owners need commercial property coverage depends both on the terms of their homeowners insurance and the assets their business has.

Home-based businesses that have only nominal assets might not need to worry about commercial property coverage. If a business owner could easily replace their business’s limited assets without incurring significant financial strain, there may be no need to insure such inexpensive goods. 

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Some homeowners insurance policies provide limited coverage for at-home business assets. If sufficient coverage is available through a homeowners policy, there’s little reason to purchase additional coverage through a commercial policy. Not all homeowners policies offer coverage for at-home businesses, though.

When a home-based business has assets and those assets aren’t fully covered by homeowners insurance, securing commercial property coverage is probably wise. 

An insurance agent who specializes in commercial property policies can review a home-based business’s assets and available homeowners protections to see whether a commercial policy is indeed appropriate.

How can Massachusetts businesses get quotes for commercial property insurance?

For help insuring business assets, contact the independent insurance agents at Norwood Insurance Agency. Our agents can show you policy options from several different Massachusetts insurance companies, and we’ll work closely with you to determine which of the available commercial property insurance policies will be most suitable for your business’s assets. With our assistance, you can have confidence that your business’s buildings, improvements, equipment and goods are well protected.

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