Commercial Property Insurance
Commercial Property Coverage can help in the following ways:
- Aid in recovery after a loss: Whether your business suffers winter storms, fire, hail, tornados, water damage, or any other type of loss; how fast your company gets back up and running can mean all the difference in its long ter m recovery. Minimizing downtime is critical for maintaining business continuity and keeping customer relationships.
- Replace damaged building & contents: Damaged building or equipment, furnishings, material goods, supplies and product inventory need to not only be replaced in order for you to maintain your operation, but it needs to be replaced quickly.
- Relief from lost business income and extraordinary recovery costs: During any downtime, your business may not be making any income. Even if you do make money while recovering, there may be extraordinary costs to keep your operation running.
Why Business Income or Business Interruption Insurance?
In the event of a lossto your property, you may suffer a large business income or business interruption claim. In many instances, the business income loss can exceed the direct loss to the building, equipment or contents. Imagine a suspension of operation at your business that would inhibit your ability to earn income. Could you still afford to pay your rent, your employees or your utilities? 40% of businesses do not re-open their doors after a loss and another 25% fail in the first year after a major mishap. Don’t let your business become one of these statistics.
Most businesses don’t have the liquid capital to support an extended outage or reduction in normal operations, and may fail as a result. You can help avoid this by discussing your sales, expenses and revenue with people in our agency. Together we can formulate a plan and select the appropriate business income coverage to meet your needs. Make sure your risk management strategy includes appropriate insurance products for all your exposures, including business income.
Equipment Breakdown Coverage
The equipment breakdown endorsement is specialized coverage for those who have commercial property insurance. The endorsement pays for the cost to repair or replace most pressure, electrical or mechanical equipment that breaks down. Additional coverages are also included. Talk to us about how this endorsement can work for you!
One of the goals of Reno Insurance Agency is to deliver high-quality products and services to all of its customers. This is one reason we offer equipment breakdown coverage for both businessowners and commercial property policies. The equipment breakdown endorsement adds coverage for the perils of mechanical, electrical and pressure equipment breakdown. These breakdowns are excluded from coverage in the standard policy. Essentially, the equipment breakdown endorsement ismeant to provide specialized coverage where coverage is not provided in the standard property forms. Equipment breakdown losses can be very costly, and can cause significant hardship for a business.
Ask us about equipment breakdown coverage as a means of adding this specialized coverage for the commercial property and businessowners policyholders.
Protect your business with the correct commercial property coverages. Contact our agency today!