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Office Space

5 Reasons To Get Commercial Space Insurance

By Jonathan Keyser
April 07, 2015

happy young business  man work in modern office on computer

Commercial property insurance protects you from loss or damage to the company’s property. A solid policy will cover personal property kept on site, supplies and inventory, computers and electronic accessories, office furniture, machinery and equipment, and property fixtures (e.g. lighting, carpeting).

You can find coverage in three basic categories, including:

  • Basic Coverage protects against sprinkler leaks, vandalism, riots, smoke, storms, explosions and fires.
  • Broad Coverage includes the basic policy plus water damage, falling objects and glass damage.
  • All-Risk Coverage features Basic and Broad Coverage plus direct physical losses and theft.

With so many issues that could arise during business, it’s no wonder why this qualifies as a non-negotiable, necessary investment. You can come up with dozens of reasons to invest in commercial space insurance, but we’ll discuss five main issues in this article.

Natural Disasters Beyond Your Control

Tragic natural disasters happen all the time. And despite the advancements with technology and science, we haven’t found a way to control the weather. With all the terrible things that accompany these phenomenons, don’t set yourself up for business disaster as well.

Bad Things Happen to Everyone

Along with the weather, you’ll find plenty of other things in life beyond your control. What if a group of people decided to start a riot? What happens if you fall victim to bad press and get vandalized? What about something even smaller, like a leak in the sprinkler system? You may never think it would happen to you, but it can and it may.

Fire and Water Damage Fright

A burst pipe or faulty wire is all it takes to create hundreds of dollars in damage. You don’t need to walk into work one morning, only to realize the floor is sopping wet and all the electronics have short circuited. Imagine if that happened and you didn’t have any commercial space insurance in place. What a stressful day indeed!

Litigation Possibilities Around Every Corner

Without the proper protection, a single lawsuit could cause financial catastrophe for your business. Putting the proper provisions in place means protecting your assets from the damage of an unfavorable litigation.

Theft Could Occur at Any Moment

Criminals constantly lurk the streets seeking out the next target. And you could fall victim to that at any moment. If you walked into the office one day and had no equipment, what would you do? Well, if you had commercial space insurance, you’d simply give them a call and receive the compensation you needed to start running again.

New companies may feel the desire to cut corners in an attempt to save money. But commercial space insurance should not enter those budget cut conversations. With so many things that could go wrong, you need to prepare for the worst. That way, if it happens, you’ll feel prepared (instead of panicked) for the future of your business.

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Jonathan Keyser

Jonathan Keyser is the Founder and Managing Partner of Keyser Commercial Real Estate(http://www.keyser.com/), which has become the largest commercial real estate firm of its kind in Arizona. Jonathan is also a Founding Partner of Exis Global, which today has over 580 people worldwide representing exclusively occupiers of commercial real estate. He is also the founder of a small investment fund that invests in emerging technology companies within Arizona, to support and help grow the startup ecosystem in the state. Jonathan was recently named "The Commercial Real Estate Disruptor" by USA Today and he is a #1 Wall Street Journal Best Selling Author, for his Best Selling Book, “You Don’t Have to be Ruthless to Win”. He has also been named a "Top Social Capital CEO" by the International Business Times, is a highly sought after keynote speaker, is widely recognized as a thought leader featured in hundreds of articles, publications, and podcasts, and has been named a "Top 20 Virtual Keynote Speaker" nationally. As an entrepreneur, Jonathan has built KEYSER into an eight-figure firm named recently as one of the Top 50 Most Trustworthy Companies in America by The Silicon Review. Jonathan is also one of the most connected business leaders in Arizona. He is an active member of Greater Phoenix Leadership (consisting of the region’s leading CEO’s), and he is also a member of Young Presidents Organization (YPO), Chief Executive Organization (ceo), and the Million Dollar Speaking Group (MDSG) within the National Speakers Association. With almost 30 years of experience in the Commercial Real Estate Industry, Jonathan’s firm represents occupiers of space exclusively, both domestically and internationally across a broad range of industries. Jonathan is sought out by companies around the world for his real estate expertise and business acumen. He is particularly good at identifying creative strategies to align real estate with business requirements, designing and implementing unique solutions to complex real estate challenges, and solving Landlord / Tenant conflicts where negotiations have deteriorated in the face of rising hostilities. Jonathan is happily married to his wife Susanna, and has 5 kids with one on the way. His mission is to change the business community through selfless service, and his entire firm is built upon this philosophy. Jonathan is known throughout the business community as someone who loves to help others, and who goes out of his way to be of service to people across the community.

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