South Texas business needs are critical along the Texas coast.
With the exposure in our region to wind, hail, and hurricane, we understand the need for good commercial property insurance for buildings, inventory, and equipment. Add to that the need to cover losses from fire, break-in, or vandalism, and you can appreciate the need to protect against the unexpected.
For many businesses, a basic property policy may be all that is needed, but even with that, the type of coverage can vary greatly between companies. Let Janecka Insurance Agency help you determine the type of insurance policy and range of coverage that suits your business. To learn more about this product, contact us today.
Get the break down on commercial property insurance.
The first thing to insure is your building. Do you have enough commercial property insurance to cover replacement costs on your building? Although cost estimators are available, we recommend that you secure an appraisal from a third party to accurately determine the current replacement cost of your building. The next thing to consider is what perils need to be included. Do you need basic, broad, or special policy forms? Speak with us to learn the difference.
Most commercial property policies exclude flood as a covered cause of loss. A separate policy must be purchased to protect you from resulting damage of rising water accumulation. You don’t have to live in a special hazard (high risk) flood zone to need or benefit from a flood policy. Check your current property insurance to be sure whether you are covered. If you are unsure, just ask us to review your coverage. We will be glad to assist you in obtaining this coverage.
Business Personal Property
Business personal property insurance covers property at a specified location for furniture, fixtures, equipment, and inventory. One thing to be aware of is that crime or theft coverage is not automatically included and must be added separately. Also, most commercial property policies have very limited coverage for property taken off the specified location. If you have equipment that is frequently taken off-site to various locations, it is important that you have an inland marine policy (called an equipment floater).
Extra Expense or Business Income (Business Interruption Coverage)
This coverage reimburses a business owner for lost profits and fixed expenses during the time spent repairing and restoring the business, requiring that the business close or be temporarily relocated. Business income insurance may also cover financial losses that occur if civil authorities limit customer access to your neighborhood or business after a disaster. We strongly recommend that a business should acquire this coverage.
Electronic Data Processing (EDP)
This coverage is separate property coverage specifically designed to protect your computer related equipment. Most commercial property policies have limited coverage for computer networks. EDP broadens the covered causes of loss to include things like power surges, and in some cases virus attacks.
Contact us today to find out how to protect your business and its future with the right insurance.