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Fire & Water - Cleanup & Restoration

3 Types of Damage Covered by Commercial Insurance

9/13/2021 (Permalink)

Broken and burnt windows. Businesses should anticipate all types of dangers that can significantly disrupt their operations.

3 Types of Damage Covered by Commercial Insurance

Commercial buildings in New Sweden, TX, are potentially exposed to a variety of risks and dangers that threaten them and the property inside them. This is why business owners often obtain a commercial insurance plan that covers these hazards. Each business has different risks than others, so insurance providers offer several coverage additions for potential incidents.

1. Theft and Vandalism
Business owners are always at risk of theft that can target their physical property or stored funds. Additionally, the building and the equipment or property inside can also be vandalized by malicious parties. Crimes like these can be difficult to predict and recover from, so insurance coverage is recommended to make up for the losses. Note that in some cases, similar crimes like burglary and robbery are not included under a specific plan, so owners and insurance agents need to establish distinctions.

2. Fires and Related Damage
Another potential incident that can severely impact any business is fire. When a fire strikes the building or the equipment, the owner can file a commercial insurance claim to cover the profit loss. When dealing with the aftermath, the insurance provider and the client work together with fire damage remediation specialists to assess the loss and repair or replace the damaged property. There are exceptions, such as damage to nearby buildings and injury to third parties.

3. Natural Disasters
An existing insurance policy can also cover several natural disasters such as hurricanes, tornadoes, and earthquakes, as long the corresponding additions are made. These natural events can devastate any business. While they can be unpredictable, owners who live in risk areas for these disasters can take preventative measures in addition to obtaining insurance coverage. As with fire incidents, insurance agents and business operators collaborate with repair professionals to fix any damage.

Businesses should anticipate all types of dangers that can significantly disrupt their operations. Commercial insurance and additional policies can help these establishments get repairs and recover financially.

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