What You Need to Know About Commercial Property Insurance Tax-Deductions

Some business owners in the San Antonio, TX area choose to rent commercial property instead of own because of the possible risks of owning. If you decide to lease your commercial space, did you know that you can reap some serious benefits? 

Leasing property for commercial use means that it is your responsibility to carry commercial insurance.  It’s to your benefit because it can protect the investment the items and equipment necessary to run your business in case of a catastrophe, such as fire, theft, or natural disaster. It also protects you if someone is injured inside your space and you are found liable for any damages to that individual. 

The best news is that commercial insurance is tax deductible for your business because you are protecting yourself, your business, and the property where you conduct your business. Most all insurance options associated with your commercial rental space are included, such as extra coverage for flood, landlord liability insurance, and even the cost of health insurance and workers’ compensation for employees that work in or out of the rental space.

Another benefit of a commercial insurance policy is that it can allow you to combine a variety of insurance coverage needs into a single plan that is more cost effective. Often, you can find better deals by bundling insurance needs together than selecting them separately. Finally, if your business is adversely affected by a rare weather event, you will be able to take a deduction on your taxes for part or all of the loss.

Access Insurance Services

Access Insurance Services provide a variety of insurance options in the San Antonio, TX area. Contact an Access agent today to discuss your commercial property insurance needs to protect your business space.