Whether you own a construction company, an accounting firm or a retail operation, you need the protection offered by a comprehensive commercial property insurance policy. As a business owner, you’d love to have a crystal ball at your disposal, but the future is unknown. You want insurance that can help your organization remain strong and successful, no matter what tomorrow brings.
Commercial property insurance protects your business from common risks such as fire, theft, vandalism and severe weather events like tornadoes, winter storms and hail damage. This vital form of insurance can not only help pay for the costs to repair or replace your damaged building, equipment and other property, it can provide relief from loss of business income and interruption costs.
Although headline grabbing events such as the Gulf oil spill’s affects on local businesses and industries indicate just how devastating natural and man-made disasters can be on commercial entities, fire damage is the most common cause of business interruption. More than 80,000 businesses are threatened by uncontrolled blazes every year, causing more than $3 billion in damages. According to the Federal Emergency Management Agency, nearly 40 percent of businesses are forced to shut down following such devastating events and another 25 percent fail during the first year following a major incident.
While you may be eligible for FEMA aid following natural disasters, the agency itself cautions business owners from relying only on its support. First, Congress must declare the event a disaster for aid to be dispersed, and even then it is in the form of a low-interest loan. Insurance claims do not need to be repaid. Additionally, commercial property insurance provides assistance for the catastrophic, widespread event as well as the isolated break-in or fire that affects only your business.
No two businesses are exactly alike; therefore you need a policy tailored to meet your specific needs. Our agents are always available to answer your questions, suggest coverage options best suited for your business, and even assist you in filing a claim. We are able to locate several policy quotes from a variety of options and insurance providers, enabling you to choose a policy with the best coverage at the most competitive rates. Contact us to find out how you can obtain a commercial property insurance policy that fits your business.