Commercial Property Insurance
Whether you own or lease your building, you need Commercial Property insurance that will respond in the event of a loss such as a fire, theft, or other hazard. If you own the building in which you operate, make sure you have proper policy limits so if property damage occurs your coverage will go the distance. Your business personal property (contents) also needs to be insured to value whether you own the building or not. If you are located in a catastrophe-prone area, your insurance needs will go beyond what a typical policy provides.
In addition to having coverage for the structure and contents, you also want to protect against loss of income (business interruption), equipment breakdown, and other property-related exposures.
Reviewing Property Risks
Baldon Group’s experienced staff will conduct a thorough evaluation of your property’s needs in order to place the appropriate coverage. For example, if you need to rebuild after a covered loss and are required to meet current local building codes, our staff will review your exposure. We will determine whether your Property insurance program includes Ordinance or Law coverage so that you do not incur significant additional costs to meet new HVAC or other regulations. We’ll also look at your risk in the event that your equipment breaks down, which is critical for most businesses, especially hoteliers and restaurant owners.
Baldon Group will also assess your property risks, such as what would happen if your business had to close for repairs for an extended period of time due to a covered loss. For example:
- Is Your Coverage Adequate To Cover Income Loss And Ongoing Expenses (Payroll, Utilities, And So On) During This Business Interruption?
- When Would Coverage Begin, How Long Would It Last, And How Much Would It Cost?
- Would You Be Covered For Property Damage If A Power Outage Forced You To Close And Resulted In Spoiled Supplies And Goods?