You’ve worked hard to build your business and you need to protect every aspect of it–that includes the property on which your business operates and the equipment used in day-to-day activities. Whether you own the land and building where your business is located or lease the space from someone else, commercial property insurance is needed to cover your physical assets, including your building, furniture, equipment, inventory, exterior fences, and signage.
Commercial flood insurance covers both damage to your building and its contents. It is a vital component of protection for the building’s structure, fixtures, equipment and inventory. Flood insurance will not only cover damage caused by overflowing streams and rivers, but also from burst pipes–so just because your business isn’t located in a flood plain, doesn’t mean you don’t need flood coverage. Note: Some insurance companies apply a waiting period before your commercial flood policy will go into effect, so don’t wait until there is a storm on the way to get commercial flood insurance.
From computers to machinery, equipment is needed to keep your business running. Few businesses could survive the loss of such vital tools. Commercial equipment coverage ensures your physical capital is covered in case of disaster. It can help you pay for equipment replacement, cost of repairs, the labor associated with those repairs and the income lost during business downtime.