PROTECT YOUR BUSINESS WITH INSURANCE FOR YOUR COMMERCIAL PROPERTY
One of the most common types of business insurance, commercial property insurance provides a wide range of coverage for buildings, inventory, equipment, tools and more. Typically, losses from fire, break-in, vandalism, windstorm and other natural or man-made disasters are the types of things that are covered. Before you decide about a commercial property policy, learn about what is included. Then, meet with us in person or over the phone and we’ll work with you to make sure you’re protected.
Let’s look at some of the major components of your Commercial Property Insurance Policy:
Do you own a commercial building? If so, do you have enough commercial property insurance to cover replacement costs? Although cost estimators are available, we recommend that you secure an appraisal from a third party to accurately determine the current replacement cost of your building. Give us a call today at 615-847-3669 and we’ll help you determine if you have enough commercial property insurance for your business.
Most commercial property policies exclude flood as a covered cause of loss. A separate policy must be purchased to protect you from resulting damage. Check your current property insurance policy to be sure you are covered. If you’re unsure, just ask Cordell Insurance Agency to review your coverage, and we’ll help you find the best solution.
Business Personal Property
Business personal property insurance covers property at a specified location for furniture, fixtures, equipment and inventory. Be aware that most commercial property policies have very limited coverage for property taken off the specified location. If you have equipment that is frequently taken off-site to various locations, it is important that you have an inland marine policy (equipment or installation floater).
Business Income (Business Interruption Coverage)
This coverage reimburses a business owner for lost profits and fixed expenses during the time that a business is closed. It applies while the premises are being restored because of damage from an event, such as a fire. Business income insurance may also cover financial losses that occur if civil authorities limit customer access to your neighborhood or business after a disaster. Cordell Insurance Agency strongly recommends that all businesses have this coverage.
Electronic Data Processing (EDP)
This coverage is separate property coverage specifically designed to protect your computer related equipment. Most commercial property policies have limited coverage for computer networks. EDP broadens the causes of loss to include things like power surges and in some cases virus attacks.
We know that protecting your business is a priority that you take seriously. Contact one of our Insurance Ninjas so that we can sit down with you and make sure you are properly covered. Because we are independent insurance agents, we work with multiple companies to compare policies. That way we can get the most competitive rate for you. When we provide coverage, we help you handle claims. You need an Insurance Ninja!