Property

The survival of your business is your livelihood, so it should be protected against the unthinkable setback – however big or small. For instance, a fire could destroy your business’s office or warehouse and the contents inside, or a burst frozen pipe could damage important documents and valuable papers.

Property Insurance comes in many forms to suit your specific needs. Basic Property Insurance covers losses due to fire or lightning, including the cost to remove property as a way to protect it from further damage. Should you want to purchase more than basic coverage, you can buy a policy that provides coverage for extended perils, such as floods, windstorms, hail, earthquakes, acts of terrorism, explosion, riots, smoke, civil commotions, aircraft and vehicles that damage your property. Beyond that, coverage for vandalism and malicious mischief can also be included.

One of the most important aspects of purchasing Property Insurance is making sure that you have bought enough coverage and are adequately protected. A typical policy will provide the replacement cost value for your building and the actual cash value for your business property. Replacement cost value is the amount that is necessary to replace or rebuild your building or repair damages with similar materials, without considering depreciation. Actual cost value, on the other hand, is the value of your property when it is damaged or destroyed. This amount is typically determined by subtracting the depreciation from the replacement cost value.

Clark Insurance understands that determining your business’s value is critical, so we’re here to help. Contact us today to learn more about our Property Insurance and loss control solutions to protect your business.