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Fire & Water - Cleanup & Restoration

Understanding Your Commercial Storm Insurance

10/26/2020 (Permalink)

Things You Should Know When Choosing Your Policy

A storm can strike anytime in Phippsburg, ME. While you can't control the damage it causes it your commercial building, there are things you can do to protect your business. Having the right storm insurance can save your company a lot of money. Here are some things you should know when choosing your policy.

Check What it Actually Covers

It is important to know exactly what your insurance coverage looks like. You want to make sure that the structure of the building is covered, as well as all office equipment. Flooding is one of the biggest problems caused by storms, so all electronics are vulnerable and should be on your policy.

Get Enough Coverage

One of the biggest issues business owners face after their building has been damaged is that they don't have enough coverage. A lot of times people want to save money by having a lower premium, so they underestimate the value of their business. Oftentimes, this ends up costing them way more than it would have to pay for full coverage. If you aren't sure about the full value of your business, consider working with an insurance adjuster.

Understand What Is Not in the Plan

While your storm insurance typically covers all damage caused directly by the storm, it may not cover problems that could have been prevented in the first place. For instance, if you end up with mold growth from flooding caused by the storm, you may end up paying for it out of pocket. This is why it is vital to call a restoration company to handle the cleanup process immediately following the storm.
If you have questions about your policy or aren't sure what kind of coverage you have, talk to your insurance company sooner rather than later. Storm insurance is not something that you want to figure out after the threat has already hit. Having the right plan in place can help ensure that your business in Phippsburg, ME, survives any disaster.

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