Why Commercial Insurance Can Be a Lifesaver for your Company

5/12/2021 (Permalink)

Commercial storm damage in Lafayette Hill, PA.

Business And Commercial Insurance

Powerful storms sweep through parts of the country nearly every day. They cause multiple billions of dollars to companies in the U.S. every year. A business that does not have robust storm insurance is at a much greater risk of failure than other businesses. The impacts of storms are many and far-reaching:

• Extensive damage to property
  
• A business interruption
  
• A potential loss of income
  
• Added costs and expenses
  
• Harm to employees and customers
  
  

Just one bad storm is enough to cost a company many thousands of dollars. Proper insurance coverage will pay many of the expenses caused by storm damage. This will enable a company to restore and rebuild damaged property.

What Storm Insurance Covers
Every insurance policy is a little different, but a comprehensive policy typically covers damage from storms and fires. Polices are normally structured in a way to have deductibles that must first be paid before insurance payments kick in. Larger deductibles tend to reduce the overall cost of the premiums. Here are some examples of what a comprehensive insurance policy will cover:

• Roof damage caused by high winds
  
• Hail damage as the result of large hailstones
  
• Wind damage that breaks windows or doors
  
• Water damage from roof leaks
  
  

In general, so long as the damage from a storm is not caused by the failure of a company to maintain its property, many expenses will be paid through the claims process. In a big storm, this can add up to a large amount.

How Restoration Services Help
While proper insurance coverage will pay for many types of damage, a company will still need the services of a local storm restoration company in Lafayette Hill, PA. These experts will arrive on the scene after a storm and restore the building to its original condition. Storm insurance is one of the main foundations of a strong business. It pays the way for a fast and successful recovery.