Whether you own your own building or rent, you have an exposure should the
building be damaged due to fire, wind, or other peril. As an owner, you have
made a substantial investment and need to protect this asset for its replacement
value. If there is a loss, you want to have your policy respond to put the
pieces back together so that your business can operate efficiently. We use the
special coverage form on almost all of our policies which gives you the maximum
protection against the perils of loss. This form typically covers all acts of
God except flood and earthquake (these two perils can be purchased separately).
It's not just what you pay for an insurance policy that matters; it's what that
contract can do for you when there is a loss.
If you are a tenant, the
coverage our contracts provide will indemnify you for your improvements and
betterments. Most insurance carriers will include this building coverage with
your business property limits. Don't overlook the investment you put into your
landlord's building. You have an insurable interest in the property and your
landlord's policy may not respond to your investment. You should review your
lease agreement with your insurance agent to make sure you have the right
coverage in place.
If your building suffers a total loss, make sure that
you have the proper coverage for debris removal as these costs can be
substantial. We include this in all our policies when applicable, and tailor the
limits to the size or your building.