Commercial Property Insurance is used to protect your business building. No matter what size your business is, whether you own or lease your building, you need to protect against any unforeseen circumstances that may affect your business property. These incidents include, but are not limited to:
- Weather damage, e.g. earthquakes, hurricanes, tsunamis
- Problems with building integrity, e.g. foundation issues, boiler problems
You may not have known this, but Commercial Property Insurance provides protection for all of your property. That includes compensation for computers, files, office supplies and furniture, craftsman supplies, merchandise, etc.
The professionals at SOGO understand how important this type of business insurance is. We want to help you find the best possible commercial property insurance. Here are a few questions that you will want to ask your insurance company:
- What type of businesses do you insure? When you sit down with an insurance agent, the first question you should ask if their company will insure your business. Some insurance companies specialize in certain businesses. Seek these out if you can. Also, if you have a small business, you need to make sure that your insurance company is willing to insure you. Some insurance companies prefer to specialize in large or small businesses.
- Do you require a property inventory? Most businesses will require a professional to draw up an inventory of your business property. Even if it’s not required, we strongly suggest that you do this anyway. An inventory will let you know exactly what your businesses is worth and helps you gain the right amount of insurance.
- How much coverage will I receive? It is important that you know what your business is worth at all times. The value of your business will expand or shrink with the business itself. You want to make sure that you are not paying for too much insurance, or too little.
- What types of incidents are covered? Insurance companies don’t always cover the same things. For instance, some companies will not weather related incidents if you live in a region that is prone to hurricanes or earthquakes. It’s important that you know what is covered under your Commercial Insurance policy and what isn’t.
- What types of discounts are available? Hopefully, by this time, you understand how important this type of insurance is, but you may still be viewing it as a financial burden. Rest assured, Commercial Property Insurance doesn’t need to be expensive. Ask your insurance company about what types of discounts they offer. Some companies might offer discounts based on the size of your business, your green technology, where you are located, etc.
- What is the claims process? Find out who and when to call to make an insurance claim, what information you need to give your agent, how long the claim will take to process, and what the next step will be. Writing down this information and keeping it close at hand can make all the difference between whether or not your claim is processed in an effective and timely manner.
Let the professionals here at SOGO help you find a company that will provide you with the right amount of Commercial Property Insurance for the right price. Contact us today.