Property/Inland Marine Coverage
If your Orange County, CA business were to suffer a significant loss due to a fire, a theft, vandalism, or some other event that would also qualify as a disaster, does your business currently have the proper insurance coverage to protect your business from these potential losses? If your company has planned ahead and purchased an Orange County, CA Property Insurance Policy, then the business could have protection for your company’s furniture, equipment, and any betterments and improvements that your company has made to its leased or owned business location. Also, additional coverages provided by these types of policies can include accounts receivable and computer equipment and data or media coverage for your computers.
Some policies may also include coverage for loss of income due to business interruption resulting in your business being suspended and unable to operate due to a covered loss, which may also cover the operating and payroll expenses necessary to keep your company in business after a covered loss. This is why having an Orange County Property Insurance Policy, along with your California commercial general liability coverage may be the best investment you can make for the future of your company should a disaster happen.
Disasters such as a fire could destroy your contents and your building, a water pipe could break and ruin your carpets, inventory, computers, and your important papers. If you don’t have the proper coverage, could your company survive this type of disaster? One way to help your company survive a disaster is by having an Orange County, CA Property Insurance Policy which can also include businesses operating as a ranch and/or farm. Having the correct property coverage can pay to replace or repair buildings and any property that was damaged or destroyed due to a fire, wind storm, or some other disastrous peril that is covered by the property insurance policy. This coverage may also cover the cost to replace stolen or lost property.
Company owners, whether they rent, lease, or own a building can purchase Orange County, CA Property Insurance Coverage. If your business leases or rents a commercial building, it is vital that you acquire tenant insurance coverage that will insure your company’s on-premises property, including such items as inventory, machinery, office equipment, and furniture. More than likely, a building owner’s insurance policy will not provide coverage for the contents of the tenants in the building. You can obtain a single insurance policy to cover a business that has more than one location, unless those entities have different functions and different risk profiles.
Orange County, CA Property/Inland Marine Liability Insurance can cover your business if you own a commercial building or if your business rents a building which may include the following coverages:
- Building (leased) – insures the building that your company leases but doesn’t own. This type of coverage is very important if you lease or rent a building and your landlord requires that you provide insurance coverage for the building.
- Stock and Inventory – if a major loss was to occur, could your company afford to replace your stock and/or inventory? Having property insurance can help your company replace these items and stay in business.
- Furniture, Fixtures, and Equipment – this coverage can pay to replace these items so your business will be able to continue. Coverage may be available on a replacement cost basis.
- Outdoor Signs – coverage for outdoor signs including electric, neon, and mechanical signs.
- Computer Hardware and Software – coverage will replace your company’s computers and can also pay to retrieve your lost data.
- Business Interruption – covers the lost income your company would suffer if your business is damaged due to a covered peril such as a fire which causes a suspension of your business during repairs or replacement.
- Extra Expense Coverage – coverage for additional costs your company may incur to continue to operate and return your business to normal after a covered loss while your property is being repaired or replaced.
- Equipment Breakdown – coverage for a loss due to an electrical or mechanical breakdown of most types of equipment. It may also help with the repair or replacement of the equipment.
- Fine Artwork – if your company has fine artwork, including paintings, etchings, or pictures, they should be scheduled, and they should be appraised by an independent appraiser to make sure your company is purchasing enough coverage should a disaster happen.
- Contractor’s Tools – coverage for your valuable tools and equipment while in transit and at job locations.
- Valuable Papers – provides limited coverage to reconstruct your company’s business records and other valuable papers that were damaged or destroyed in a covered loss.
- Inland Marine Coverage – insures goods in transit by land, air, or inland waterways. It also covers projects under construction and transportation and communications structures, such as bridges, tunnels, and communications towers.
- DIC – Difference in Conditions – this type of insurance can provide coverage against causes of loss normally excluded in standard property forms, such as flood, water damage, and earthquake.
As you can see there are many types of coverages that make up an Orange County, CA Property/Inland Insurance Policy. If you would like to explore what coverages would benefit your company in case a major loss was to occur, please call the experienced brokers at PJO Insurance Brokerage in California.