Getting Business Contents Insurance may be one of the most important decisions you ever make, but what is it exactly?
Contents insurance is a special type of business insurance that protects the movable items in your business. It is usually coupled with premises protection or business building insurance. Moveable items in a business may include but are not limited to your desk and chair, other business furniture, your computers and laptops, your paper work, the information on your computers, and even the materials that are used to create the product or service you provide.
Protection and reimbursement is available for the following situations:
*In the event of a theft by an employee or outside entity
*If you have a fire that destroys your business
*If the smoke from a fire damages business items
*If a plane or flying object falls into the business and destroys property
*Water damage that happens as a result of some internal force such as a leaky faucet or broken pipe (as long as this problem happened suddenly…mold and other slow leak issues might be considered negligence by the owner)
It is important to note that not all water damage is covered by business contents insurance. For instance, if a nearby lake or river were to over run its boundary’s and the business were flooded, then that damage would not be covered.
When deciding on which insurance to use, it is important to consider how much you can afford to pay in premiums. In the case you are trying to save some money, some simple and good advice is that you should agree to pay your premium ahead of time if you can afford it. Many insurers offer 15% discounts for this. Another thing you can do is agree to pay as high a deductable as you can afford so that will offset your monthly premium.
Please continue reading more in the following posts about business contents insurance to learn some more interesting facts about this sometimes confusing but very necessary entity.
