You’ve got coverage for the structure, but what about everything inside it?
When it comes to insuring your business, protecting just the physical structure is not enough. You also need to think about all of the business equipment that you have inside. Do you have insurance that is capable of protecting your computers, servers, office equipment and furniture? If you don’t have any protection against loss and damage, you could be in for a rude awakening in the event of a disaster. The best way to make sure you are covered is to have commercial property insurance that can protect all of your business gear.
What does commercial property insurance cover?
This form of insurance will cover and protect the property that you need to use to conduct your business. If you lose access to the equipment to a covered event, then the insurance will cover the repair or replacement costs of the business equipment, up to the limits stated on your policy.
It is important to know exactly what types of events the policy covers. For example, most will include damage from vandalism or theft, as well as fire damage. However, they may not cover something such as a flood. Always make sure you know the events for which you are covered so there are no nasty surprises later.
You also need to know what types of property the insurance is typically going to cover. Fortunately, it should cover all of your business equipment, including computers, chairs, and even inventory, as well as all of the other necessities that you need to run your business.
Some of the policies will also cover business interruption. This means that if there are certain events that cause you to stop your business operations for a certain period, the insurance can provide you with the ongoing costs of keeping the business going.
Why is insurance vital?
Take a moment to consider what you would do if you walked into your building one day and discovered that someone had broken in during the night and taken key pieces of your equipment, such as your computers and hard drives. Hopefully, you’ve backed up everything you need in terms of data to the cloud, but that doesn’t do anything to help you with the missing hardware. When you have commercial property insurance, you will have the help you need to get your business back on its feet as quickly as possible. The same is true if you were to find that someone had stolen a substantial amount of inventory. Commercial property insurance lets you get on with your business. Without it, your company could go under very quickly since you would not be able to meet the needs of your clients and customers.
Choose your carrier and plan wisely.
Whenever you are choosing commercial property insurance for your Florida business, make sure that you read and understand all of the fine print. You need to know exactly what it covers and what it does not cover. Keep in mind that the policies can be written in a number of different ways. Some might be based on the actual cash value of the items or it could be based on the replacement costs. Some might offer blanket insurance, and others might offer broad term coverage.
Take the time to compare different insurers and plans so you can find the one that’s the best option for you and your business. If you simply choose the first company that you find, you might not be getting the great deal that you hoped you would.