Commercial Monoline Property

What is a Commercial Monoline Property insurance?

Commercial Monoline Property is a type of insurance policy that provides coverage for only one specific type of risk—namely, property insurance—as opposed to bundling multiple coverages into a single policy. In a Commercial Monoline Property insurance policy, the coverage focuses exclusively on protecting a business’s physical assets, such as buildings, equipment, and inventory, from risks like fire, theft, vandalism, and natural disasters.

When would you choose to purchase a Commercial Monoline Property policy?

In general, a monoline policy is used for a single line of insurance that may be excluded or doesn't provide adequate coverage in a package policy.

Businesses might opt for Commercial Monoline Property insurance if they already have other forms of insurance or if they want to ensure specialized protection for their physical assets. For example, when a Commercial Package Policy or Businessowners' Policy doesn't provide sufficient coverage for a property, you will need to purchase a separate Commercial Monoline Property policy.

What are some reasons why you would need a separate Commercial Monoline Property policy?

Companies purchase a Commercial Monoline Property when:

• The package policy excludes a high risk that would require you to purchase a separate policy.
• The risk is too large for one policy and to be fully covered would require multiple policies to increase your policy limit.
• You need a custom solution to cover a specialized risk, such as coverage for a risk not covered in a typical package policy.

What are some businesses that can benefit from a Commercial Monoline Property policy?

Some businesses that could benefit from a Commercial Monoline Property policy include:

• Office Buildings
• Shopping Centers
• Warehouses
• Apartment Buildings
• Condominiums
• Hotels

Contact an insurance agent for more information

If you have questions about what insurance coverage is right for you, talk to an insurance agent. They will guide you on the best options available for your business needs. Contact us to find an agent in your area.