Commercial Property Insurance
Commercial Property Insurance Information
Commercial Property Insurance- Bellefontaine, Marysville, Columbus OH
Depending on the type of business you have, a physical storefront is often pretty important. This is the hub of your operations, for employees to have a central place to do their work and for customers to have a location where they can come see you. If you own the building where your storefront is located, then it's pretty important to make sure it's covered if something happens.
What if you don't own the building? Well, then chances are good you have contents inside the building that are crucial for you to operate your business. Computers, office furniture, machinery, tools, you name it- it's probably there. What if those items disappeared, whether by theft or natural disaster?
And heaven forbid, what if you were unable to continue operating your business because a claim prevents you from occupying the building?
This is why Commercial Property insurance is so important. And why you need a Bellefontaine Ohio insurance agent that works to discover your needs and then works equally hard to make sure they are fulfilled.
What does a typical commercial property insurance policy include?
Also includes items permanently attached to the building, including canopies, awnings, equipment, fixtures and signs. Depending on the company, this may also include glass. Coverage can extend to assets that are lost or damaged to fire, lightning, hail, tornado, theft or vandalism. Flood is always excluded. Earthquake can be added to the policy for additional premium.
The easiest way to determine contents is this: imagine you turn the building upside down. What falls out is considered contents. Pretty simple huh? Property of others can be included as well.
Business Income/Extra Expense
These two items are often overlooked or dismissed, but the truth is, without income coming in, how will you run your business? Simple- you won't. So Business Income coverage can offer lost income relief, along with expenses associated with recovery from a business’ inability to run as usual following a covered loss.
As for Extra Expense, this coverage provides funds should you need to set up shop in a temporary location while repairs to your building/business are being made. It can also pay for increased expenses in your new location. For example, let's say your rent at the old location was $500 a month. Your new, temporary location is $1,000 a month. The $500 difference can often be covered by the Extra Expense coverage.
Without adequate commercial property coverage, approximately a quarter of businesses fail during the first year following a disaster or theft. Such events result in hundreds of billions of dollars in paid claims. Most businesses cannot afford such a substantial loss. Commercial property insurance can assist with repairs, replacements and lost income during a tumultuous time like a natural disaster or theft. Commercial property insurance helps businesses survive various situations.
Contact Alan Galvez Insurance Today
Request your commercial property insurance quote with Alan Galvez Insurance NOW- 5 QUICK questions will get you started! Note: By submitting this form you won't get an "instant" rate- instead you get a team that will shop our companies to find the best policy for you at the best premium. We have several companies in-house and access to MANY more. So you can stop shopping and leave the hard work to us! A member of our helpful team will contact you within one business day, but usually much sooner!
Helpful Tip: Often, a business also needs general liability insurance and commercial auto insurance, to avoid coverage gaps and get the best discounts. We can help with that too!
From Michael B.- "The staff has worked very hard for 30 or more years to provide us with the best values on our home, vehicles and business coverage! A++ for us!" (Read more testimonials)
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