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Fire & Water - Cleanup & Restoration

The Basics of Commercial Property Insurance

5/21/2018 (Permalink)

The Basics of Commercial Property Insurance

Your business in Waynesville, NC, is your lifeline. As with all things that are important to you, you want to protect your business by insuring it properly. Commercial insurance packages often contain general liability, workers’ compensation and property policies. When reviewing property policies, it’s good to know what you should expect it to cover and how to work out a fair deal with your insurer.

What It Covers

Property insurance exists so that you can be compensated for losses that occur as the result of theft, natural disaster, flood or fire damage. Your insurance adjuster can assess your claim to make sure you are made whole again after tragedy strikes. There are many aspects of your business that your commercial insurance should cover:

• Building where your business is housed
• Important documents
• Equipment used, from computers to manufacturing machines
• Inventory
• Additional structures on the property, such as fencing or storage sheds
• Signage

Anything that restoration specialists must assess, restore or replace should be covered under your policy.

What It Costs

When putting together your insurance package, your agent weighs risk factors to determine the cost of your property insurance premiums. The higher the risk to the insurance company, the higher your cost is likely to be. For example, if you live in an area that has excellent fire protection records, or if there is a fire hydrant right outside your door, you may enjoy less expensive premiums. If your area does not have good fire protection or your building has a bad fire rating, the risk of insuring you is higher for the insurance company, so you can expect your monthly cost to be higher. While there are few things under your control that affect prices of insurance, having a good fire alarm or sprinkler system can help a little.

Your commercial insurance policy is designed to protect your business from catastrophes outside your control. Finding a solid property policy at an affordable price can give you peace of mind. For more information, visit http://www.SERVPROhaywoodtransylvaniacounties.com/.

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