If written properly, Commercial Property Insurance can be the difference between having the insurance dollars required to get back into business and simply being out of business. To rest comfortably, you must spend time with a knowledgeable Commercial Property Attorney who will help you navigate the many coverage forms and policy limitations, while tailoring a program that meets your needs.
If your agent has encouraged you to work together to design and update your insurance coverage you should be in good shape if disaster strikes. Setting proper replacement cost limits on Commercial Buildings and Business Personal Property is the critical starting point. Periodic updates of these values are recommended as costs change over time. Companies undergoing growth and expansion must keep their agents informed as to changes in locations, inventory values and additions to the physical plant.
Protecting Business Income is generally as important as writing protection on Buildings and Contents. Setting proper limits for Business Interruption Insurance requires a thorough analysis of your sources of Income and the associated fixed costs that must be paid regardless of whether you can continue to operate. Determining the time required for the resumption of your business after a worst-case loss scenario is just as important as understanding your Monthly Income requirements.
Some companies have special coverage needs for inventory on delivery vehicles and for the property of others in their care and custody. Be certain that all these insurance exposures are adequately considered when writing coverage.
It is always advisable to engage the services of an experienced Insurance Advisor when evaluating your commercial property coverage needs. If all goes well, you should not need the services of a Florida Commercial Property Claims Attorney when you present your claim for payment. However, if you believe your Insurance Company isn't playing fair with your claim, or if your Insurance Agent has failed to meet his duties with regard to advising you on coverage, then contact Mr. Sapourn to schedule a FREE CONSULTATION.