No matter what industry your business is in, you will need some form of business insurance. There are many risks that your business must take into account, such as lost income, employee injuries, property damage, and legal fees. Common types of business insurance include workers' compensation, commercial property, liability, and auto.
Commercial property insurance is designed to protect the buildings and other physical assets associated with your business. Policies cover a wide range of events, such as fires, natural disasters, theft, and vandalism. Here are two reasons why your business in Huntington Beach, CA, needs this type of business insurance.
Coverage for Water Damage
Water damage is one of the most common dangers that affect commercial buildings. A heavy storm could break a window and bring rainwater into the building. Broken pipes could cause water to leak through walls and ceilings, creating a structural hazard. A leaky HVAC system could create a mold problem in your building.
Commercial property insurance will cover these kinds of events. However, be sure to check the details of the policy so that you know the exclusions and coverage amounts.
Coverage for Water Cleanup
If your building is exposed to water damage, it is important to respond quickly and reach out to a water restoration company in your area. Mold can start to grow within 48 hours, which is why it is advisable to work with water restoration professionals to ensure that all the water is removed. A team of professionals will also help you save paper documents and other sensitive items that may have been exposed to water.
Restoration services are covered under many commercial property insurance plans. Be sure to document everything so that you can expedite the claims process.
These are just a few of the many reasons why your business needs a comprehensive plan for business insurance. Preparing for these events is essential for the future of your business.
