Authored by Sara Weathers

According to an article from Business Insurance Magazine, commercial property rates are on the rise. Most commercial insurance rates rose in February, but commercial property insurance showed the largest average increase.

Commercial property rates increased to 8.86% in February, compared to 8.67% in January. This is based on the Ivans Insurance Services monthly index. While other commercial insurance rates rose, this was by far the biggest increase. For more information on commercial insurance rates, check out Business Insurance Magazine’s article.

With the unpredictability of climate change and the weather changes it brings, it’s extremely important for businesses to have property insurance, even with the rates increasing. Have questions about your firm’s property insurance? AdvoCap Insurance is here to help.

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