In today’s small business insurance market, it is possible to get some disaster coverage combined with your small business property insurance coverage. However, as a business owner, it is up to you to dig for what is covered and what’s not.
Typically, your property insurance covers property from the everyday risks for things like theft or damage from an accident. Disaster insurance will cover the immediate loss and impact to your business and property from a specific occurrence, like a flood.
As noted above, it is now possible to add coverage to your existing policy for specific disasters like flood, earthquakes, and acts of terrorism. It is important to review your present coverage and look for any specific exclusion written into your existing business property policy.
Speaking with a licensed insurance professional is important before determining what coverage is necessary and how it works in conjunction with your existing property insurance. What you are trying to accomplish is a combination of coverage and policies which reduces your risk and doesn’t duplicate coverage. You want your premium dollars working for you for the maximum coverage.
Generally, disaster coverage deductibles are a percentage of the loss, unlike your business property coverage which will have a set deductible. Depending on the amount of the loss, that can be a significant number. Work with your licensed insurance professional to determine what risk exposures your business has, and how to best manage the risk with a combination of business insurance and separate disaster coverage.
Don’t be afraid to ask questions and get a clear understanding of how your coverage will work in the event it is needed.
Let us help you get protection for your business and keep your mind at ease. At CommercialInsurance.Net, our goal is to help you find an affordable insurance quote your business as efficiently as possible. To get a competitive insurance quote it is fast and easy, enter your zip code and click “Get Quote.” One of our specialists will contact you soon.
Great! Fast service at a great price. Needed a business insurance provider the same day for a company I work with. They had the quote to me within minutes and policy up and running shortly after. Would recommend highly!
I had to renew plow insurance. Let’s just say it isn’t easy, so many strings attached. But Commercial Insurance stepped in and helped me out. They found a policy that would work. Thanks guys!
This insurance purchase for my business was the most seamless phone encounter I have ever had in any phone purchase process bar none. Information was requested once and moved smoothly from one person to the next as we moved thru the purchase. Each person I dealt with was friendly, professional, and focused on determining my needs and the best way to match me up with the solution.