Las Vegas Property / Inland Marine Coverage
If an unfortunate incident such as a theft, fire, or some other event that would also qualify as a disaster were to happen to your company, is your Las Vegas/Clark County, NV company’s current business insurance coverage able to cover these potential disasters from harming your business? Assuming your company already has its NV Property Insurance Policy in force, your company should have protection for its equipment, furniture, and any tenant improvements your company has made to its space. Also, these types of insurance policies can provide additional coverages that will include valuable papers, accounts receivable, and/or media and your computers. Additional coverages that are available on some policies include coverage for loss of income due to your business being suspended and can’t operate due to a covered loss and may even cover the operating and payroll expenses necessary to keep you and your business on its feet after a covered loss.
Acquiring a Clark County Property/Inland Marine Insurance Policy could be one of the best investments you could make if a disaster were to occur. As you know, a disaster can happen anytime, a water pipe bursts and proceeds to ruin inventory, carpets and computers, a fire could destroy your building and contents, and, worst of all, your important papers. Without the proper insurance coverage in place, could your company survive a disaster of this type? Having a Las Vegas, NV Commercial Property Insurance Policy is an important first step in helping your company survive a disaster such as this, even if your business is a farm and/or a ranch, this coverage can help pay to repair or replace your property that was destroyed or damaged due to a storm, fire, or some other disastrous incident that is covered by the company’s insurance policy. This coverage could also cover the cost to replace lost or stolen property.
It doesn’t matter whether your company leases, rents, or owns the building, the company can acquire Las Vegas Property Insurance Coverage. If your company rents or leases a commercial building, it is very important that you acquire tenant insurance coverage that will insure your company’s on-premises property, including such items as machinery, furniture, betterments and improvements, stock and inventory. Generally, a building owner’s insurance policy will not provide coverage for the contents of the building that belongs to your company. Your company has the option to purchase one single insurance policy to cover a business that has more than one location, unless those entities have different risk profiles and different functions.
Clark County, NV Property/Inland Marine Insurance can cover your business if you own a commercial building or if your business rents a building which may include:
- Building (leased) – insures the building that your company regularly uses but doesn’t own which you are contractually required to insure. This type of coverage is very important if you lease or borrow a building.
- Furniture, Fixtures, and Equipment – the coverage will pay to repair or replace these items so your business will be back up and running. Coverage may be available on a replacement cost basis.
- Equipment Breakdown – coverage for a loss due to an electrical or mechanical breakdown of your boilers, refrigeration systems, and other mechanical or electrical machines. It may also help with the repair or replacement of the equipment.
- Stock and Inventory – if a disaster were to occur, could your business afford to replace its entire stock and inventory? Having property insurance can help your business replace these items so you will not lose sales due to having no products available.
- Outdoor Signs – coverage will repair or replace your outdoor sign damaged by a covered loss such as fire, theft, vandalism, or certain weather conditions.
- Computer Hardware and Software – coverage can replace your company’s computers and can also pay to retrieve your lost data.
- 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.
- Business Interruption – this coverage will pay for the income your company would lose if your business is damaged and it can’t continue its normal business operations.
- Extra Expense Coverage – if your company does incur any additional costs to return your business to normal after it’s damaged, the policy will pay for those costs up to the insurance policy limit.
- Fine Artwork – if your company has fine artwork, it needs to be scheduled, and also it would be wise to have an independent appraiser review your fine artwork to make sure your company is purchasing enough coverage should something happen to the fine art works you have.
- Contractor’s Tool Floater – Tools and equipment can be covered in transit or at a jobsite.
- Valuable Papers – coverage provides limited coverage for your company’s business records and other valuable papers. In some instances, your company may be able to purchase an endorsement to increase this type of coverage.
As you can see, there are quite a few coverages that make up Las Vegas/Clark County, NV Property/Inland Marine Insurance Policies. If your business would like to explore what coverages would best fit your company’s needs in the event a disaster were to occur, please call the experienced brokers at PJO Insurance Brokerage.