Getting a Commercial Insurance Policy Can Protect Your Business

9/8/2023 (Permalink)

One of the first things you need to purchase for your business in Crossville, TN is a commercial insurance policy. To make sure you get the right coverage for your business, you need to know what is valuable to your company.

Include All Of Your Valuables

Be sure to know and list all of your corporate assets before sitting down with an agent. This list should include items that are costly to replace or are critical to guaranteeing that your business functions on a daily basis. This list you come up with will help you decide what you need to have covered.

Important business assets should consist of those things that can be impacted by natural disasters as well as criminal activities, including ice and hail storms, mold or water contamination, auto theft or vandalism, and major events such as hurricane and fire damage.

Include Large and Small Items In Your Commercial Insurance Policy

• Manufacturing equipment, delivery trucks, and fleet vehicles 
• The main office space and exterior buildings, such as warehouses, storage facilities, equipment sheds and security offices
• Inventory and packaging, packing materials and shipping containers
• Major office equipment such as phone systems, hard drives, computer systems and copy machines

Understand How the Potential For Fire Damage Can Affect Your Policy

One of the biggest factors that impacts insurance costs is how much fire damage your facility could withhold. Location is a major concern. Being in a city that has direct access to firefighters and fire restoration companies is better than being in a remote location. Close proximity to fire hydrants and a fire station will impact your premiums. An old, all-wood building is considered less safe, and therefore more expensive, than an office in a newer facility constructed with fire resistant materials. Generally speaking, an office building is cheaper to insure than a building that houses hazardous materials and areas, such as gas stations and commercial kitchens.

When getting a commercial insurance policy in Crossville, TN be sure to compare all of your assets against losses including fire damage and other catastrophes. It's also a good idea to take into consideration how your building's location, construction, and contents may impact your premiums.