Protect Your Business from Property Loss

Elite Insurance Solutions has many property insurance policies to offer business owners. We can select an insurer and a policy that’s right for you depending on which perils you need coverage for. Most business policies are packaged together to cover many different things (for instance, all property and liability risks), though we can also customize and separate policies depending on your company’s needs.

Property insurance typically covers not only the structures in question but also much of what’s within, including:

  • permanently installed fixtures
  • raw materials or inventory
  • machinery and equipment such as computers
  • outdoor fixtures
  • items used to maintain or service the building.

Causes Of Loss

Business property insurance usually covers losses due to:

  • fire
  • lightning
  • explosions
  • windstorm or hail
  • smoke from accidental fire
  • aircraft or vehicles
  • riot or civil commotion
  • vandalism
  • automatic sprinkler leakage
  • sinkhole collapse
  • building collapse
  • volcanic action
  • certain types of damage from water or other liquids

Wear and tear, however, is not covered by property insurance, since it’s not accidental or unpredictable. However, there are many losses not mentioned above that can be added to a property policy, sometimes by payment of an additional premium. Coverage for losses can be lumped together or separated, as coverage for some events isn’t needed by every business.

Buildings Covered By Business Property Insurance

Traditional business property insurance in Tennessee will cover any buildings the business owns as well as the property needed to run the business. Buildings may be insured at their cash value or at their replacement cost; your agent can help you determine which arrangement is best for you. Structures that may be covered by Tennessee business property insurance include:

  • Investment properties
  • Rental homes
  • Office buildings
  • Retail shopping centers
  • Mixed use developments
  • Apartment and condominium buildings
  • Hotels, motels, and resorts
  • Commercial warehouses
  • Industrial and manufacturing facilities

Tennessee Businesses: Property Insurance For Leased Property

If you’re a Tennessee business owner who is leasing a property, you are obligated to insure the property while it’s in your care. Your lease should describe your insurance obligations, and our agents can help you review your lease to be sure that your property insurance covers the things listed. Property insurance for leased property may include coverage for tenants’ improvements and betterments, including fixtures, alterations, installations or additions that the tenant has put into the space.

Whether you rent or own, it’s important to discuss with your agent what property is and isn’t covered by your policy, as well as whether you may need to purchase additional coverage for types of property excluded from the basic coverage. For example, most businesses should consider business auto insurance.

Is your property covered? Our agents can help you be sure – visit our Locations & Contact page to find the Tennessee location and agent nearest you.


Liability insurance is a necessity for any company, so if you need help with this type of business coverage, give us a call.

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