As a business owner, your commercial property needs can change over time to help meet operational requirements and satisfy customer demands. Specifically, expanding your business will likely require you to obtain additional property.
When acquiring additional business property, however, it’s important to reassess your commercial insurance coverage and ensure you will remain adequately protected following such an expansion. Fortunately, the newly acquired or constructed property extension found in many commercial property policies can offer temporary protection in these situations.
Review the following guidance for an outline of key coverage features and limitations for the newly acquired or constructed property extension.
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