A major disaster could occur anywhere at anytime and turn a profitable company into a business forced to permanently close their doors. Destruction due to severe weather conditions, such as many of the major storms and hurricanes that have recently affected large areas in the US, should be a concern for many business owners. Orlando builders owners insurance helps to protect companies from everything that could go wrong, from a minor event to serious financial losses when business property damage occurs.
However, it doesn’t even take a major storm to impact your company. A fire could destroy the building and the all the contents inside, or a storm could damage cars, outdoor signage, fences and other structures. Something as simple as a burst water pipe could damage documents, drawings or other valuable papers, and yes, high winds or torrential rains could cause structural damage rendering the building uninhabitable. As a business owner you need to make sure that the company is properly insured. Here are a few tips for getting the proper coverage for commercial property insurance.
Create An Inventory of All Assets
There are times when employees get lax and important business property may be overlooked when considering policy options. Take inventory of all equipment, including computers, fax machines, printers, other electronics (kitchen appliances, microwaves, coffee machines), and even office furniture. There may also be important items stored in a storage facility. Basically any physical item used to conduct business can be insured and your first step should be to research different insurance agencies to help determine just what can and cannot be insured.
Consider Your Coverage Options
There are some options when it comes to purchasing Orlando builders owners insurance, which an insurance agent should help you by providing information about these options. For example, even if any piece of equipment breaks by accident, and is not the result of a theft, there is coverage available for this.
Other considerations to keep in mind are whether to purchase ACV (Actual Cash Value). ACV will repay the actual cost of any depreciated assets that were stolen or damaged. There are many preemptive steps you can take that have the potential of lowering your insurance premiums as well. By installing alarms, having fire extinguishers on hand, along with fire and smoke alarms, you can go a long way towards reducing the cost of coverage. Ask an agent about any available discounts, as some insurance companies will provide discounts to business owners purchasing both personal and business insurance from them.