Property insurance protects the physical assets your business owns such as computers, office equipment, buildings, furniture, fixtures, and other property. Property policies offer many important kinds of coverage, some of which we have highlighted:
Business Income Coverage – provides for continued income or lost revenues while the building and its contents are being rebuilt and replaced. Business income helps you to cover operating and normal payroll expenses needed to keep an organization operating after a loss, usually for a specific time period.
Building Ordinance Coverage – covers the increased cost to comply with building codes, ordinances or laws that have changed after your building was originally constructed. For example, under revised building codes you may now be required to install sprinklers which would increase the value of construction.
Back-up of Sewer – Water leakage and sewer backup are two separate perils under a commercial property policy. Sewer back-up covers costs to repair or replace items damaged by back-up or overflow of a sewer or drain.
Call Steve today for a business insurance review; 303-808-9351.