Understand Your Commercial Property Insurance Policy
There are many things in life that are not super exciting, but that are so important they demand your full attention. Commercial insurance coverage probably falls into this category. If you don't understand your policy coverage the following negative consequences could result:
- You could pay too much for coverage
- You could be under insured
- You could incorrectly think you are covered for certain situations
- You could be missing out on discounts that will lower your premiums
To make sure you get the best insurance for your needs in Indian Springs, AZ, it's important to set aside a day or more to address your company's needs. This involves such things as tabulating your assets and holding a long conversation with your insurance broker.
The Basics of a Commercial Insurance Policy
A big component of a commercial policy is understanding fire damage. How much could your company loose in a major fire, as well as the likelihood of a fire occurring, are two big factors in your policy. If you are located far from an adequate water source and far from a fire station, you might pay more. If your company deals in flammable products, or the building is constructed of combustible materials, this could cause your premiums to rise. You might also be able to reduce your insurance premiums by setting up a proactive plan to decrease the chance of a fire or to reduce the potential damage from one. Installing a sprinkler system in your building, buying fire extinguishers, training employees in fire awareness and having a fire plan in place could make you eligible for discounts.
One way to limit fire damage is to partner with fire remediation experts in Indian Springs, AZ. A professional team can appear on site quickly and work to limit the damage from fire, smoke and soot. The team can also help you get the most out of your commercial insurance policy by providing a detailed list of damages.