Know the Basics of Your Commercial Storm Coverage

10/26/2019 (Permalink)

Structural damage in a Kendall, FL property

It may not be necessary to know everything about your commercial storm coverage, after all that's what your trusted insurance agent is for, but you should definitely know the basics. This puts you in a strong position to make informed decisions on your coverage. It also enables you to prioritize what fixes and preparations you should make to your building and its grounds in Kendall, FL. It's all about protecting the business from the effects of a powerful storm. As with all insurance policies, you don't want to be paying too much for storm insurance, nor do you want to have unnecessary gaps in your coverage.

Understand What Is Covered

It's critical to know what weather events your building is covered for. Many insurance coverage policies include the following situations:

• Wind damage caused by a powerful storm
  
• A business interruption caused by an "Act of God"
  
• Water damage caused by a sudden event
  
• Structural damage caused by lightning
  
  

Each policy is different, so make sure you have the storm insurance coverage your company needs. It's also critical to work to minimize the damage to your business by calling in storm mitigation professionals after a tornado or hurricane has passed through. A company that is Faster to any size disaster could help your business recover quickly from a storm.

Know What Is Not Covered

A business policy often includes several exclusions, specific events that are not covered under your policy. This could include damage from flooding, especially if your building is located in a flood zone. It may include some forms of water damage such as sewer backups. If you are found to be in neglect, such as failing to maintain your roof adequately, or if a problem has occurred over a period of time, this might be excluded as well. Your best defense is to know your policy and have frequent discussions with your insurance agent. This allows you to customize your insurance coverage to provide the best plan for the best price.