Building and Commercial Property Insurance Building and personal property insurance is commercial insurance coverage used to cover buildings, business personal property, and the property of others while it is under the care, custody, or control of the insured. Commercial property insurance is a core insurance requirement for all businesses and Southpoint Insurance provides various options for complete coverage for your commercial facility and related assets. How much building and commercial property insurance coverage do I need? In determining how much commercial property insurance is right for your business, your Southpoint Insurance agent will walk through your facility with you, learning about your business, to understand your requirements. Because we’re an independent insurance brokerage, we’ll evaluate multiple programs to build the appropriate coverage plan for your business. How Does Building and Commercial Proper Insurance Work? Subject to provisions and conditions, coverage applies to the property described in the declarations page of the policy in each of these three categories. Coverage limits in each category are also described in the declarations page of the policy. The coverage(s) is generally subject to a deductible and the covered property must be insured to meet a minimum percentage of its actual cash value, most commonly 80%, described as the coinsurance percentage. If coverage falls below the minimum coinsurance percentage in the event of a loss, the amount recovered by the insured may be lessened.