Building & Property
get a policy that protects your unique commercial assets.
Reasons to consider building & property coverage include:
1. Financial assistance during a recovery reduces downtime.
2. Lost content replacement for inventory and equipment.
3. Lost income replacement for catastrophic loss.
4. Coverage for simultaneous claims and incidents.
5. Protection against theft and vandalism.
These are just some of the potential benefits of having commercial building and property insurance. This list is not exhaustive and not all features and benefits will be available or necessary for every business.
What is Building & Property Insurance?
Commercial building and property insurance is a no brainer if you want to protect your business against risk. Imagine that your company is suffering from a major unforeseen incident like a hurricane, tornado, flood, or fire. Would you be able to recover quickly? Would you even be able to get back in business? Commercial building insurance comes in a wide variety of forms depending on your needs and general covers any buildings or property related to your commercial endeavors. This protection is crucial for any business to mitigate the financial losses associated with business related incidents.
Many businesses suffer from sudden loss or catastrophe and then never fully recover. The cost of business property insurance typically depends on the degree of risk you face, for example whether you are in a flood plain, manufacture dangerous goods, or have large complex machinery. Taking measures to improve the safety and security of your building(s) and operation(s) can reduce your risk and potentially reduce the cost of your business property insurance.
Here are a few tips to stay prepared:
1. Review on-site safety protocols: Look for potential risks on the property like fire hazards, unsecured areas, or equipment that poses an increased chance for injury.
2. Review on-site security: Look for ways to reduce the risk of breaking and entering. Installing cameras and electronic locks enhance security and reduce the risk of theft or vandalism.
3. Review cyber and server security: If your business uses the internet and stores sensitive information, it is a good idea to back up all of your company's data regularly and possibly even at an off-site location. Cyber security is becoming increasingly necessary for large and small businesses alike, but not all insurance policies include cyber coverage. Take the necessary precautions, and be sure to discuss your cyber protection needs with one of our agents.
4. Prepare for outages and downtime: If the viability of your company depends on the operation running regularly without significant interruption, it is smart to have backup electrical sources that can keep your business running in the event of a long term power outage.
Getting the right building and property coverage starts with expert consultation. We will study your company's unique characteristics and previous policy, explain the options, and craft a policy designed specifically for your business. Our access to the top carriers means that you will get the policy you need at a price you can afford. We look forward to serving you!