Insure Your Commercial Properties Today
Habitational, Retail, or Industrial Property Insurance with Lafayette Insurance
Commercial Property Insurance protects your commercial buildings, contents, premise liability, and sometimes… other people’s property.
Building – Permanent fixtures, permanent machinery, and permanent equipment
Business Personal Property-Non-permanent fixtures, machinery, equipment, and inventory
Personal property of others-In your business’ custody or care
Your commercial buildings are your livelihood, let us assist you with making sure you are adequately protected.
Prefer to talk? Call or text 765-474-2300.
Commercial Property Insurance in Lafayette and Tippecanoe County
Whether you own a storefront downtown, an office near Purdue, a rental complex in West Lafayette or a warehouse on the edge of town, commercial property insurance protects the buildings and contents your business depends on. Lafayette Insurance helps property owners and business tenants across Tippecanoe County put the right coverage in place.
What commercial property insurance covers
- Buildings: the structure itself, along with permanently installed fixtures and equipment.
- Business personal property: furniture, computers, machinery, inventory and supplies.
- Tenant improvements: upgrades you’ve made to a space you lease.
- Business income and extra expense: lost income and the added cost of operating while you repair after a covered loss.
Coverage details that matter
Replacement cost vs. actual cash value. Replacement cost pays to rebuild or replace with new, while actual cash value subtracts depreciation. On an older building, that difference can be large.
Coinsurance. Many commercial property policies require you to insure the building to a set percentage of its value. If the limit is too low, a claim payment can be reduced. We help you set limits that hold up.
Ordinance or law. If a damaged building has to be brought up to current code, standard coverage may not pay the extra cost. This is important for older buildings in Lafayette.
Equipment breakdown. This covers sudden breakdowns of boilers, HVAC systems, electrical panels and production equipment.
Habitational, retail and industrial properties
Apartment buildings and student rentals, retail centers, offices and light industrial buildings each carry different risks, and insurance companies have different appetites for them. As an independent agency, we can shop your property with multiple commercial carriers, including ERIE, to find the best fit for your building. For one- to four-unit rentals, also see our landlord insurance page.
Commercial property FAQs
Is flood covered?
Not under a standard commercial property policy. Flood coverage is purchased separately.
Do I need property coverage if I rent my space?
Yes. Your landlord’s policy covers their building, not your equipment, inventory or improvements. A business owners policy is often the most affordable way to cover them.
Call 765-474-2300 to review or quote commercial property coverage.
What sets our commercial property insurance companies apart
Companies we represent for commercial property insurance include ERIE, Progressive and Berkshire Hathaway Homestate Companies. Each one has its own strengths, and these are some of the options available through them:
- Equipment breakdown: Equipment breakdown can be included automatically on some business owners policies with property, extending to cloud service interruption and data restoration.
- Sewer and drain backup: Coverage can pay for both the physical damage and your lost business income if you have to shut down.
- Fine arts: Coverage is available for antiques, paintings and other fragile property.
Features, limits and availability vary by company and policy. Ask us which options fit you.
Our process
Compare Quotes from Lafayette Insurance
01. Provide Details
Tell us a little bit about what you are wanting to insure.
02. Discuss Coverages
We educate you on insurance coverages relevant to you.
03. Compare Quotes
We shop multiple companies to find the best rates and protection.
04. Pick Your Policy
Choose the insurance plan that works best for your individual needs.
Lafayette Insurance Reviews
What our Clients Say
★★★★★
Joe and his staff are top notch. I never worry if I have an issue involving insurance. They are there to help make the experience worry free and professional. It’s worth your time to give Lafayette Insurance a call.
Stacey Minier
★★★★★
Tremendous support from Joe Couch. He was readily-accessible, diligent, and a tremendous help through the process of switching policies. Would recommend to everyone.
Daniel Layman
★★★★★
Joe Sr. and Jr. are both professional and do the very best they can to get you the best deal possible. They have reached out to me to let me know of opportunities to decrease my rates before my terms were up so I could plan accordingly. They always answer when I text or call with a problem. Can’t say enough good things about this company or the people running it!
Jon Chapin
★★★★★
Very professional and responsive. After calling several agencies in the area, our quote was 15% lower than anywhere else!
Devon Moore
★★★★★
Joe Jr. looks out for you. Initially he had me with one insurance agency. 1 year in and upon finding a new deal, he contacted me, helped me save some money, and found a more reliant insurance company for my family’s vehicles. He is personable and offers good advice without trying to overexert influence. I have not had to deal with a wreck yet and working through a claim, but I will update this post if it happens.
Isaac Schumacher
★★★★★
They are very nice and will find the best deal for you. They also follow up with you in the future to better you in better insurance for less.
Jasen Shaver