Commercial Property Insurance

Serving the unique needs of businesses in all of New Jersey and the Tri-State Area

One of the most common types of business insurance is commercial property insurance and it provides a wide range of coverage for buildings, inventory, equipment, tools and more. Losses from fire, break-in, vandalism, windstorm and other natural or manmade disasters are examples of what is typically covered.

A basic commercial property insurance policy may be all you need, although the types of coverage can vary between different insurance companies. As an independent agent, Pavese-McCormick can help you determine the type of insurance policy and range of coverage that is best for your business. For a full list of coverage available, or to learn more about this product, contact us today.

What you need to know about commercial property insurance


Do you own a commercial building? If so, do you have enough commercial property insurance to cover replacement costs? Although cost estimators are available, we recommend that you secure an appraisal from a third party to accurately determine the current replacement cost of your building. Give Pavese-McCormick a call today at 732-247-9800, and we’ll help you determine if you have enough commercial property insurance for your business.


Most commercial property policies exclude flood as a covered cause of loss. A separate policy must be purchased to protect you from resulting damage. Check your current property insurance policy to be sure you are covered. If you’re unsure, just ask Pavese-McCormick to review your coverage, and we’ll help you find the best solution.

Business Personal Property

Business personal property insurance covers property at a specified location for furniture, fixtures, equipment and inventory. Be aware that most commercial property policies have very limited coverage for property taken off the specified location. If you have equipment that is frequently taken off-site to various locations, it is important that you have an inland marine policy (equipment or installation floater).

Business Income (Business Interruption Coverage)

This coverage reimburses a business owner for lost profits and fixed expenses during the time that a business is closed. It applies while the premises are being restored because of damage from an event, such as a fire. Business income insurance may also cover financial losses that occur if civil authorities limit customer access to your neighborhood or business after a disaster. Pavese-McCormick strongly recommends that all businesses acquire this coverage.

Ordinance Or Law Coverage

The standard building and personal property coverage form excludes coverage for any costs associated with the operations of building laws or ordinances. This coverage can be purchased to provide coverage for the increased costs and effects due to building laws that had previously been grandfathered but that are activated because of a significant loss. Coverage “A” applies when laws require that a building not meeting current building codes be torn down following a significant loss so that it can either be constructed to meet current standards or that the owner must move to another location. Coverage “A” covers the value of the undamaged portion of the building that must be destroyed. Coverage “B” pays for the cost to demolish the undamaged portion of the building. Coverage “C” covers the increased cost of construction required to meet current building codes.

TIME ELEMENT – Off Premise Utility Services

Most businesses depend on utilities that provide water, electricity, heat, air conditioning, and communication services to conduct their operations. Many experience a major indirect loss of income or incur substantial extra expenses to continue operations in different ways or at other locations when any of these critical utility services is interrupted.

Many businesses incur extra expenses to resume operations quickly in an attempt to reduce the amount of their business income loss. They may change to an auxiliary power source or physically move to a temporary location to continue operations or provide services.

Time element coverage forms do not insure these indirect (and often costly) exposures to loss when the interruption of power is due to a cause of loss that occurs off premises. However, coverage can be added.

Note: Overhead transmission lines are included only if checked as covered on the endorsement schedule.

Electronic Data Processing (EDP)

This coverage is separate property coverage specifically designed to protect your computer related equipment. Most commercial property policies have limited coverage for computer networks. EDP broadens the causes of loss to include things like power surges and in some cases virus attacks.

Commercial & Business Insurance

– Insurance coverage that helps protect your business

Liability Insurance
Broad insurance coverage for your business and activities.
Property Insurance
Serving the unique needs of businesses in all of New Jersey and the Tri-State area.
Auto Insurance
Cover your business with insurance for commercial vehicles.
Umbrella Insurance
Insurance coverage that helps protect your business from the rising costs of high value lawsuits.
Compensation Insurance
Insurance coverage that helps you take care of your employees.
Bonds – Commercial & Contract Surety
Protect your assets with financial backups for promises made by others.
Including Professional (Errors & Omissions), Cyber Security, Employment Practices Liability (EPLI), and Directors & Officers (D&O)
Cannabis Business
Cannabis insurance coverage that protects your medical/medicinal cannabis and recreational cannabis business from risk and loss.

In addition to advising you on the right coverage, we provide additional services, such as:

Loss Prevention Programs
With our insurance company partners, we can evaluate your business’s current conditions and recommend ways to lower property, auto, workers compensation or liability losses. Lower losses will not only lower your insurance costs, but also increase your productivity by avoiding downtime.

Competitive Rates
Many of the insurance companies we represent specialize in insuring specific types of businesses or industries, offering special coverage and pricing.
Quick Claim Response
When you do have a claim and need fast and fair service, we work with you to make that happen. That’s why we only represent companies with excellent records for settling claims fairly and promptly.

Our Version of ‘Flow’ is Christine.

Serving unique needs of businesses in NJ and the tri-state area

  • Food Distributors
  • Hospitality/Hotel
  • Manufacturing
  • Food Distributors
  • Social Services/Non-Profit to both as well
  • Medical Device Manufacturing
  • Life Science Insurance
  • Technology
  • Plastic Manufacturing
  • Cannabis Business
  • Restaurant
  • Real Estate/Commercial Property
  • Wholesalers/Distributors
  • Education

To see if your business qualifies for one of these special programs, call or email Pavese-McCormick at 732-247-9800 or and talk with one of our agents today.