Building your own business from the ground up is a very satisfying accomplishment. That’s why you should be sure to protect it with commercial building insurance. It protects your business by paying for losses or damages from unforeseen circumstances.
With the recent damage from Hurricane Michael in the Panama City, FL area, Aloha Building Contractors wants to make sure you’re prepared for any event with commercial building insurance. Here are a few different types to consider when protecting your commercial property.
Business Interruption Insurance
This is an excellent commercial business insurance policy to have. It covers you if you experience income loss and increased expenses that were caused by business interruptions. Hurricane Michael caused many businesses in our area to suffer property damage loss, and having this type of insurance can protect you and get you back up and running when natural disasters strike.
Boiler and Machinery Insurance
When equipment accidentally breaks down from machinery to computers, this type of insurance assures you’re covered in the even of property damage as well as helps you with any loss of revenue caused from the interruption.
Builders Risk Insurance
Do you have a building under construction? This one is important to cover losses in the event something should happen beyond your control while it’s being built, for example, when a severe windstorm strikes.
Crime Insurance
Every business owner should get this. You never know when you might be the victim of theft, burglary, or robbery. It protects you whether things are stolen by employees or from outside third parties.
Debris Removal Insurance
When flooding, fires, or storms damage your property, this insurance covers the cost of removing the debris from your property. It will also pay for rebuilding should the damages be more severe.
Glass Insurance
Businesses with glass storefronts should always have this in place. You can easily add it to your policy to protect you in the event your store windows break, whether by act of nature, crime, or accident.
Ordinance Insurance
Also known as law insurance, this one covers you for expenses related to demolishing and rebuilding up to code when your building has suffered a certain degree of damage. It will recover the replacement value of your building but won’t cover the rebuilding to meet current building codes so make sure you work with an insurance provider if your building is older to ensure you get the right coverage in the event you’d need to rebuild.
Tenants Insurance
To protect your business from damage due to the negligence of employees or for making improvements to rentals, you’ll want this insurance for complete peace of mind.
When building a new commercial property or modifying one, Aloha Building General Contractors in Panama City or Lynn Haven FL can help you think about what types of commercial building insurance you should consider for protecting your business investment, no matter what the weather!