Are You Covered Properly?

9/20/2019 (Permalink)

Protect your business assets.

Every company needs business property insurance whether you own your own company building, lease it, or work from home. What a core business owners policy covers is your building and its contents, along with exterior fixtures. To go more in depth, this policy will cover your company’s physical assets from fire, explosions, burst pipes, storms, theft and vandalism. Normally earthquakes and floods are not covered in this policy unless added to the plan.

Cost

The cost of this policy varies. There are many factors that affect the cost of your policy. It really depends on the value of your business assets, including your building. The rest is based on risk. To elaborate on that, your location, construction, occupancy, fire protection, and theft protection are things that manipulate your premium. Location is obvious, if you live in an area prone to storms and other natural disasters your premium will adjust accordingly. Another factor is how you building was built and how old it is. The industry that you are in also affects the cost. Lastly, insurance companies look at how far away you are from the nearest fire hydrant and fire station and they also look to see if you have fire alarms, sprinkler systems, and security systems.

Coverage

Just like we talked about before, this policy will basically covers your building, everything in it and just outside of it. Here are some examples:

• Computers
• Furniture
• Equipment
• Exterior Signs
• Fence
• Landscaping
• Important documents
• Inventory
• Others’ property

SERVPRO of Spartanburg County works hand-in-hand with insurance companies all the time to make sure our customers are taken care of properly. To find out more about coverage and cost of a plan like this, contact your insurance agent to make sure you are covered properly in case of a disaster.