Information to help you plan, prepare and protect what matters most.
If you are a business owner, it is likely, if you own your own building, that the building is your one of your single largest assets.
Are you sure you are covered correctly? Is there enough coverage to rebuild your building inside and out in the event of a total loss?
Commercial building insurance protects business owners from risk and loss in the event of damage from water, fire, theft, storms, vandalism, or other forms of destruction. A commercial building policy will cover the physical structure and building materials of the property, as well as any exterior fixtures that are a part of your business like an outdoor sign or fence.
When your business property suffers damage, there is not only financial loss from the damage, but there can also be financial consequences if your business has to close for repairs. What about the extra expenses that come from such an event?
Where will you run your business from while your building is being rebuilt? Will your business be shut down during the renovation? Who will pay your valuable employees if there is no work being done and no revenue coming in?
The right commercial building insurance policy will not only protect the property itself, but it will cover any loss of income that a company might go through after damage occurs.
These policies will cover profit loss, increased expenses that might occur because of the damage,
or losses if the business has to close while repairs are made.
Having the right commercial property insurance is essential to protecting
your business, your customers, your employees, your brand, and your livelihood.
What is commercial general liability insurance and why do you need it? Perhaps nothing will put you out of business faster than a liability lawsuit.
This is because the dollar amount associated with liability lawsuits are often extremely high. Commercial General Liability Insurance or Business Liability Insurance will protect you against bodily injury or property damage your business is legally liable for. For example, if an individual is hurt on your property and sues for bodily injury, your policy will protect you against these types of claims.
If you are a business owner with vehicles out on the streets, owned by the business, you certainly need quality commercial auto insurance. Your drivers may be at the wheel, but it is your business that is on the hook if they cause an accident and hurt or even kill another driver. Commercial Auto Insurance is more than just covering the value of your company vehicle, it’s about protecting you from liability claims that could cause financial ruin to your business. Do you have the proper business auto coverage and do you have enough business auto liability coverage to protect you against such catastrophic events?
Commercial Auto Insurance is somewhat complex at its core. How the policy is written is as important as the insurance itself. There are multiple ways in which a business auto policy can be written. For example, “named auto’s only.” Just as it implies, this coverage would only apply to the vehicles specifically named in the policy. This is commonly how commercial auto policies are written. What about autos you might not own but use in the course of business. How are those covered? There is another way to write them called “Any Auto” coverage. “Any Auto” coverage is much broader and provides much more protection for your business. The way the policy is written matters and a good agent will make sure the policy is written correctly to provide the business owner with the most valuable and the broadest coverage available to protect the business owner.
Insurance Professionals of Arizona writes commercial auto insurance for a wide range of business industries. If you would like a free commercial auto policy review please contact us.