Whether you are new to commercial insurance in South Florida or are a commercial property owner shopping for new insurance companies in Boca Raton Florida to replace your existing commercial insurance policy, there is a good deal of information to consider.
All Risk Insurance Group is a full-service and independent insurance company with more than 15 years of experience. As one of the highest regarded insurance companies in Boca Raton Florida, we are dedicated to ensuring our clients have the best, most up-to-date information available when it comes to their commercial insurance policies. Before you lock yourself into a policy, here are some questions you want to make sure you ask when buying commercial property insurance.
How Much Coverage Do You Need?
The first thing you will need to know is the value of the property. The value of the property is what will be used to determine how much coverage you need. You will also want to keep in mind that the value of the property can change over time, so you may need to update your policy regularly. You want to make sure you have enough coverage to protect your investment, but you also don’t want to over-insure and end up paying more than you need to.
What Does Commercial Building Insurance in Florida Cover?
Commercial building insurance in Florida covers the physical structure of the building as well as any contents that are inside the building. This can include furniture, equipment, inventory, and more. It is important to note that not all policies are created equal and some may cover more than others. You want to make sure you understand what your policy covers before you purchase it.
What Are the Projected Deductibles on the Policy?
Deductibles are the amount of money you will be responsible for paying out of pocket if you need to file a claim. The higher the deductible, the lower your monthly premium will be. However, you don’t want to set your deductible so high that you can’t afford to pay it if you do need to file a claim.
Can I Bundle My Commercial Property Insurance?
In some cases, you may be able to bundle your commercial property insurance with other types of insurance, such as liability insurance. This can help you save money on your overall insurance costs.
Is There a Minimum Amount of Insurance I Need?
The minimum amount of insurance you are required to have will vary from state to state. In Florida, the minimum amount of coverage for commercial property insurance is $500,000.
What Are My Payment Options?
Most insurance companies will allow you to pay your premium in monthly or annual installments. Some may also offer discounts if you pay your premium in full upfront.
Speak to a Specialist Today
All Risk Insurance Group wants to make sure that each and every client gets the facts before purchasing any of our insurance policies. If you have any questions about commercial insurance in South Florida or would like to get a quote, please contact us today. We are always happy to help our clients find the right policy for their needs.