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Home > Blog > Commercial Property Insurance for Healthcare Buildings
WEDNESDAY, JUNE 23, 2021

Commercial Property Insurance for Healthcare Buildings

Owning a healthcare business can be exciting. You may own a traditional office, chiropractic spaces or an alternative medicine center.  

No matter what type of business you operate, the building you are in matters. It is valuable to you. Most of these locations undergo significant modification and updates to be practical and functional for the company. As a result, it is essential to have them properly protected with business insurance. Know your risks. Be sure your policy is up to date.an emergency sign on a hospital 

Protect the Structure 


Whether you own or lease the building, it is important to have property insurance. Verify that the property owner provides it if you rent or lease the space.  

Most often, healthcare buildings will be valuable locations. Discuss with your business insurance agent the specific value of the building. If you own it, protect it by investing in enough coverage to rebuild your property should it be a total loss. This is a multi-step process, and will require your direct involvement. 

Protect Your Equipment 

One of the highest areas of importance for healthcare businesses is the equipment. Sometimes, organizations lease the equipment. In this case, your level of responsibility for making repairs depends on your contract. For those that own their equipment, commercial property insurance must cover the property. This includes medical equipment, furnishings, inventory of any medical supplies, and computer systems. 

  • Estimate the value of your equipment. In a total loss, how much would it cost to replace it all? 

  • Determine how much inventory you keep on hand. Consider medications in this type of asset as well. 

  • Look at your computer systems. Most medical providers should have quality business insurance to protect their computer systems. Consider additional cyber security coverage. 


You're going to have to work in-depth with your insurance agent to establish the right limits. Your insurance should combine the value of what you own, building and equipment. It should take into consideration the need to upgrade equipment, too.  

Do not limit your coverage here. If a fire occurs, and you lose the location to that fire, you will need to have the financial compensation necessary to rebuild and replace each one of these items. Your business insurance needs to provide you with enough funding to do this. Update your commercial property insurance at least one time every year. Discuss changes in your building structure and equipment with your agent. Doing this keeps your policy custom to meet the individual needs of your location. 
Posted 5:10 PM

Tags: commercial, property, insurance, coverage, healthcare, building
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