As a business owner in Inlet Beach, FL, you have seen first hand in recent weeks the importance of having a comprehensive commercial property insurance in place to protect your business from a catastrophic event such as Hurricane Irma. When purchasing a commercial property policy, business owners should consider the following important points.

Property policy must have enough limit to cover the business

As a business owner, it is critical that you come up with a number that will not only replace the physical structure but also replace the contents of the property such as inventory, desks, and computer equipment. Sitting down with your insurance agent at Dune Lakes Insurance Agency to come up with an appropriate replacement cost will help protect you from being short on coverage in the event of a loss.

Do not assume you are covered for weather-related events

Chances are a standard property policy is not going to automatically protect you from financial losses caused by a hurricane. As a business owner in Florida, you need to seriously consider purchasing hurricane insurance as an add-on to your property policy.

Another coverage that is not automatically included in a standard property policy is business interruption. Business interruption is coverage you can purchase that will help you pay expenses and assist with loss of income while your business is unable to operate due to a covered event. You should speak to your agent about the various business interruption options available to you.

Finally, if your office is an older building, you may want to consider compliance coverage. This will help pay for the cost of bringing the space up to code in the event of a loss.

If you are interested in learning more about commercial insurance coverage for your business, please reach out to us at Dune Lakes Insurance. We proudly serve the Inlet Beach, FL area.