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Fire & Water - Cleanup & Restoration

What Coverage Is Included in Commercial Property Insurance?

4/19/2021 (Permalink)

Workers cleaning up building after severe damage. Make sure your building is insured.

As a business owner, you know how important commercial insurance is for your property in Mount Pleasant, TN. Without adequate coverage, you could be responsible for paying for the extensive damages after a fire.

What Should Be Included in a Commercial Property Insurance Plan?

Buildings – All buildings owned by the business must be covered. For example, if you own one main building but also have a small warehouse at a different location, that second building must be included in the insurance plan. Even small storage units should be identified. Get coverage for the premises around the building as well. This includes outside furniture and other fixtures, landscaping and fencing.
Manufacturing Equipment – The equipment used in manufacturing, assembling and processing must be identified in the insurance package.
Office Equipment – Computers, printers, furniture, phones and other office equipment should be covered in your commercial insurance plan.
Inventory – If you house finished goods at the premises, this should be mentioned in the insurance package.

What Important Situations Do Insurance Companies Consider?
The location of your building is important to your insurance agent. If there is a fire department nearby and fire hydrants close to the property, this may reduce your premiums. The type of construction used in your building is also a key factor. Fire-resistant materials used in the flooring, insulation and walls keep costs down.
Every business should invest in a well-designed fire alarm and sprinkler system. Fire sprinklers are activated by the heat below, so only those sprinklers in the direct vicinity are turned on during a fire. By comparison, a fire department hose is very powerful and can cause a lot of damage from water. If you are in need of restoration after water or fire damage, contact a fire restoration service as soon as possible.
Talk with your insurance agent to ensure that your commercial insurance plan is able to fully protect you after a devastating fire.

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