Natural disasters can be unpredictable. Even when you prepare, there’s no telling how much damage strong winds and torrential rain will cause. Excessive property damage can even shut down your company for a time. The good news is that commercial property insurance can help you recover quickly and get operations back on track.
Commercial Property Insurance Has You Covered
Commercial property policies are one type of business insurance. They specifically cover physical assets, including:
Equipment
Inventory
Buildings
Documents and records
Landscaping and fences
Looking at the above list, you may notice one type of asset missing: vehicles. While commercial vehicles are property, commercial property and casualty insurance doesn’t provide coverage. Instead, you’ll need commercial auto insurance, which covers medical payments, repair costs, and rental expenses.
Commercial property policies pay for replacing or repairing assets damaged due to fire, theft, vandalism, or natural disasters such as hurricanes, tornadoes, or earthquakes.
However, there are also exclusions. Insurers won’t honor commercial property claims for the following:
Damage from agricultural or industrial smog
General wear and tear
Mold, rust, and rot from subpar maintenance
Rodent, bird, and insect damage
Additionally, commercial property policies don’t cover flood damage, even if said damage results from a storm. However, you can obtain flood coverage as a separate policy.
Replacing and repairing business assets out of pocket can be incredibly expensive. Even well-prepared enterprises may struggle to recover without the help of commercial property insurance.
Natural Disasters and Their Impact on Businesses
Severe natural disasters can cause business interruptions that last days or weeks. A lack of electricity may make it impossible to process sales or order inventory. Your building may be structurally unsound or littered with debris, stagnant water, and downed electrical lines, all of which pose dangers to employees and customers.
In all likelihood, your company won’t be the only one affected. Construction, trucking, and other businesses in the area must also get back on their feet. As a result, you’ll need to turn to enterprises outside your locale, which can be expensive. While many companies gladly send workers to areas recovering from natural disasters, rebuilding costs more when they need to transport materials and labor.
If you sell inventory or need to replace equipment, you’ll also have to order from businesses outside the affected area. Downed trees and flooded roads may disrupt the supply chain further, making recovery slow and unpredictable.
There’s also the danger of looting and vandalism in the aftermath of a disaster. You don’t need financial worries taking up energy when your top priority is protecting your property and preparing to reopen your doors. Commercial property insurance provides peace of mind by ensuring you receive the necessary funds to rebuild.
Commercial Property Insurance Safeguards Your Business’s Future
Natural disasters may be devastating, but your business can recover with the proper support. Commercial property insurance provides timely funds for cleanup, replacement, and repair of equipment, documentation, warehouses, and retail stores. You never know what the future holds, but a policy from Securance can offer peace of mind. Find out more by contacting a Securance agent today.
About Securance
From our home base in Texas, Securance serves the insurance needs of clients throughout the country and abroad. With 50-plus years as a trusted advisor to businesses, families, and individuals, we help clients safeguard their hard work and step confidently into the future, knowing they are well protected.
Contact us today at (713) 977-6606.
