Firearms Insurance Agent Blog

Why Finding the Right Commercial Property Insurance is Important

Insurance is one of those things that we all hope to never use, but still need to carry just in case. Commercial property insurance is included in that list. It’s something that every business never wants to use, but that they should carry thanks to the protection it provides.

Here are a few reasons why finding the right commercial property insurance is important for your business:

It protects you from a variety of disasters

Commercial property insurance is coverage that protects your business from a variety of risks. Imagine what would happen if your business had a fire, flood, or storm damage that affected the building itself or the contents. Without the right insurance, the loss from any number of incidents could be devastating to your business.

It covers your equipment, and inventory

The specific things that are covered varies between insurance carriers and policies. It is essential that you have a policy that is tailored to the needs of your business in order to be sure that you are adequately protected. As a general rule, it will cover things like the building, outdoor fencing and signs, office furniture and equipment, and inventory. Additional coverage options, sometimes referred to as endorsements, can be added to a policy to provide additional protection.

ACV vs. RC

Another important option is whether it covers losses based on the actual cash value (ACV) or replacement cost (RC). Policies that pay a claim based on actual cash value will result in a loss being covered at the value minus depreciation. This option may leave you in a bad position if you experience a significant loss. Policies that pay a claim based on replacement cost will cover the cost of repairing or replacing lost items without adjusting for depreciation.

Associated Services in Insurance has been helping businesses in the firearms and ammunition industry find the best coverage for their needs for more than 10 years. Contact us today to learn how we can help you protect your business.