The amount of business property insurance you need all depends on the amount of stock or equipment that you maintain for your business operations. Take the time to perform a detailed inventory of all your business property, equipment and stock in order to determine the estimated amount of coverage you will need. Be sure to include real estate, such as any buildings or garages that you own.
Additionally, it is important to both assess and determine a value for your property. By doing so, you will know how much insurance you need to receive a fair amount of compensation should any damage afflict the property. The higher the dollar amount of coverage you need, the higher the insurance premium will be. In this case, it may be wise to choose not to cover certain items that may not be worth the cost of business property insurance coverage.