Every business owner has a need to protect his personal property from theft or
direct damage. However, each company has its own unique risks when it comes to
protecting their business contents. This could be one's inventory or office
items such as computers and other forms of EDP equipment. The asset that needs
protection could also be in the form of money or valuable papers. The insurance
professionals at Silas Chapman & Company take the time to become familiar with your
needs so that your policy will respond properly.
It is important to make
sure your contents are covered at replacement cost rather than actual cash
value. This way you will be able to replace the items at their current value
rather than suffering the loss of depreciation. The policy is intended to
restore your business to the level you were operating at prior to the loss.
Some other areas of interest that are often overlooked are what can
happen to the contents and where does the loss take place? Many business owners
are satisfied that they are insured for the proper property levels only to find
out that there are exclusions for theft and/or employee dishonesty. Even worse
is when the peril is a covered loss, but happens off premises and the proper
endorsements to cover the property away from your location were never put on the
policy. Transit and
Installation Coverage under an inland or ocean marine form will solve this
issue. Leave it to us to remind you of the important questions of how and where
so that you can concentrate on doing what you know best.