Commercial Property Insurance

What is Commercial Property Insurance and How Can it Protect Your South Florida Business

Owning a business can be a daunting journey especially when the risks are evident. The important thing to keep in mind, especially if your business is in South Florida is that investing in insurance can make the start up journey less stressful. If your business is in South Florida and you’re not quite sure what commercial property insurance entails, the following information will surely be of help to you.

What is Commercial Property Insurance and How Can it Protect Your South Florida Business

Commercial Property Insurance was made to cover a business for any losses that have been caused uncontrollable accidents such as vandalism,  hurricanes and other natural disasters, fire, theft, and so on. Owning insurance will help you as the business owner to have leverage and security on any monetary assets. If your business does experience any property damage from any of these types of occurrences, based on the coverage you get, your insurer will provide you with a safety set of funds to recover. Loss of equipment, inventory, and other tools may also be given financial compensation to help with the loss of revenue.

What Does this Insurance Include and Exclude?

Thinking about this part of owning a business is certainly not fun, but it definitely pays to be prepared. It’s far better to be prepared and not have anything happen than for the opposite to occur. On average, the monthly premium for commercial property insurance  ranges from $500-$1,000, but if you think about the costs of losses if you end up experiencing a freak accident without coverage, the investment becomes the wise choice. Floods and earthquakes typically are not covered by standard commercial property insurance. However, you can decide to add to the coverage of the policy you get to cover all possible disasters.

How Much Coverage Is Necessary?

The amount of coverage you need all varies on certain factors. First, it’s important to know your business’ land value, location, and crime rates. Secondly, be aware of any hazardous areas nearby. Ask yourself whether the area your business is in is nearby dangerous areas. For instance, the A1A area of Boca Raton carries risk from storm surge and hurricanes while the warehouse area near Dixie Highway and Glades Rd. or on Rogers Circle off Clintmore Rd. in mid Boca Raton carries with it a completely different type of risk of vandalism etc. Our property insurance experts will ask you how old your office building is and the premium will likely be higher if the building is older. At home businesses will also cost much less in comparison to a business that requires heavy duty industrial equipment. How much coverage you need simply all boils down to how much you want covered and what your budget is. Don’t be afraid to ask our insurance agents for their suggestions on what you need covered. Getting a quote to understand the possible costs will also make budgeting within your price range more possible.

Take the time to work with a good Liability Insurance company in South Florida. The commercial insurance agents at All Risk offer free quotes that can give you a better understanding of how much insurance you may need. Peace of mind is possible when you know your business will be taken care of by a credible insurer. Working with a professional company like All risk Insurance in Boca Raton also means you can connect with agencies such as Geico, Travelers, Universal Life and Casualty. Whether you’re a healthcare provider, a local business, or an individual contractor, having insurance to cover you will pay off in the long run.