When you own any property that’s being rented out or using for commercial purpose, purchasing commercial property insurance is highly recommended. Having a commercial property not only protects your property from damage due to wind, fire, lightning, hail, explosions and theft, it also provides liability coverage against lawsuits for bodily injury occurred on your business premises or arising from your operations. Generally, the liability coverage under commercial property insurance includes both the cost of defending you in court and for any damages a court rules you must pay up to the amount you choose when you purchase the policy.