Every business person knows that there are risks involved with owning a business. Profits and losses are inevitable. However, commercial Property Insurance was set up to protect these businesses from minor or major losses. You are one-step-ahead if you considered this insurance for your business, no matter how little it is – truly, your future depends on it.
Commercial Property Insurance varies from one business to another, following some significant factors. It gets even more expensive if the business deals with tools that cost a lot. Due to the increase in natural disasters and unstable weather conditions, businesses are often advised to seek every protection they can get.
Hence, judging from this type of insurance’s sensitive nature, you don’t need an inexperienced broker to complicate things for you. We provide exclusive hours of service to ensure that your business, properties, and equipment are protected against disasters and damages.
What are the Factors We Consider?
While we take an interest in protection, we don’t commence with our services without considering some important factors.
A significant factor that we often considered before validating and evaluating the cost of commercial property insurance is the company or business location. Ideally, properties within an area with weather or natural disasters cost more to insure. You could also say that buildings with good fire protection are less expensive than those with limited protection. Indeed, you’ll find it as a varying factor.
Apart from the location of a building, the use of a place, also called Occupancy, is another factor we use to estimate insurance cost. Fire ratings are a thing, and they vary from one property to another. It would interest you to know that they rate better than many significant places where activities involving fire occur all the time – restaurants, for example. Therefore, if we find your business office in a building with a hazardous tenant, insurance costs will be higher.
In good consideration of fire ratings, the construction of a building affects the cost of insurance. We offer discounts on buildings made with fireproof materials; however, those with combustible materials cost a little higher. Moreover, the structural elements within a building, such as floors, stairways, etc., are also determinants of how much you will need to insure. If they are fire-resistant, they wouldn’t cost so much; if they are combustible, the premiums will be high.
Fire and Theft Protection
One last factor we use to determine the cost of commercial property insurance is Fire and Theft Protection. Ideally, we look at the distance between the office building and the nearest fire station. Likewise, we consider safety and security features like fire alarms, sprinkler systems, and anti-theft lock systems. If a building has these features, insurance costs will cost less than a building that doesn’t.
What Does Our Commercial Property Insurance Cover?
With the factors above in consideration, we can specifically say that our insurance program covers the following;
Every factor points towards the quality of an office building, whether it is packed with necessary features or amenities for protection. The building’s fire rating is a strong determinant of insurance costs, as it should be. If the building lacks in so many ways, we only expect you to pay higher.
Office buildings always have pieces of equipment that are used to run daily activities. For instance, computers, phone systems, and computers are insured against damages or fire hazards. It doesn’t matter if they are owned or leased. In a manufacturing or processing company, all heavy machines and equipment are also insured.
Records and Inventory
For every business transaction that takes place in a company, records and documents are kept. The vulnerability of these inventories cannot be overemphasized. Therefore, we make sure we provide coverage on them against natural disasters or fire hazards.
Fence and Landscaping
Our commercial property insurance further extends to the structures surrounding a building, i.e., fence and landscaping. A heavy storm or any natural disaster could tear these structures down. We provide coverage for them as well, so you don’t suffer heavy losses.
We also cover pieces of furniture within a company’s workspace because they could get damaged or destroyed by fire and cost a lot. If it is a situation where you have to get new ones, we make sure the cost doesn’t affect business or income flow.
Exterior Signs and Satellite Dishes
Companies sometimes maintain a descriptive status with signs and billboards. Insuring these exterior signs will be beneficial in case they get vandalized or destroyed. Likewise, if the company has satellite dishes, we provide coverage on that, as well.
Why Do You Have to Insure with Us At All?
We see businesses folding-up every day because they suffered property loss due to fire outbreaks or natural disasters. However, a little challenge shouldn’t be the end of a lifelong dream; instead, it should be an opportunity to expand. We understand this situation, which is why we offered to help with our Commercial Property Insurance. With the necessary factors in place, we can easily estimate the cost of insuring a business property.
Our services are outstanding, as we offer solid protection for lives and properties. Indeed, what we do is in the interest of your business. Hire our services today, and you won’t regret that you did.