Why Would You Want Commercial Insurance?

8/27/2020 (Permalink)

A person holding an insurance declaration page.

If you own or run a business in St. Louis County, it’s extremely important to have a commercial insurance policy to protect your assets from a potential catastrophic fire or other catastrophe. This type of insurance may prove invaluable in many ways after an emergency. Here are a few reasons you may want to consider having commercial insurance.

1. Commercial Insurance May Cover Restoration Costs

In most cases, a fire or water restoration process at your business can include a number of costs for both the structural repairs, fire damage cleanup, the contents cleaning, document restoration, and any additional services that might be restored. That can be a lot of different services you may not have initially realized will be necessary to restore your business to it's original condition before the damage occurred. Commercial insurance takes these types of repairs into account and may include them under your policy.

2. Commercial Insurance May Recommend a Restoration Service Provider like SERVPRO

Another important aspect of commercial insurance is the fact that in many cases the carrier may have a preferred cleanup and restoration service provider they work with or contract. These providers are usually industry certified restoration professionals who may have a number of tools that allow them to communicate and work with your insurance provider. This means you won’t have to waste time looking for a trusted company, as your insurance agent or adjuster may already have their number on file.

3. Commercial Insurance May Cover Secondary Damages and Business Interruption

If your policy includes secondary damage coverage you may find that the cost of some unexpected repairs may be covered. Secondary damages are damages that occur as a result of the initial problem. For example, the need for a smoke cleanup, or water damage repairs could occur along with or after an initial fire damage.

Maintaining a commercial insurance policy for your St. Louis business can be a good idea for a number of reasons. A commercial policy may be able to cover a number of costs associated with cleanup and repairs, including the services from a restoration provider. Your insurance provider may even recommend a specific team for you to work with like SERVPRO. Additionally, depending on your policy, secondary damages may also be covered which can help with unexpected damages, not to mention monies for lost revenue due to business interruption.