Can commercial insurance help me in emergencies?

To truly prepare your business for tough times, you need a commercial insurance policy that extends beyond basic liability. But how can you be sure what type of coverage you need? The best way is to review your business with a qualified insurance agent like the staff at Gallina and Sons serving the greater Pittsburgh, PA region.

Commercial insurance basics

According to the Pennsylvania Insurance Department, businesses need to protect their structures and other property investments as well as provide workers compensation insurance. Some businesses must also provide certain employees with health insurance coverage. When starting a new business, consultation with an agent and state agencies is key to ensure compliance with all federal, state and local requirements.

Coverage for emergencies

When protecting your business against floods, fires, and other emergencies, you need to develop a comprehensive approach that meets the basic needs of all facilities and locations. Some sites may also need additional coverage to meet other considerations, such as a location within a flood-prone region or a site with earthquakes.

To fully prepare for an emergency, your business needs to invest in replacement cost coverage. This means assessing the full value of your structures, implements, production equipment, inventory or any other necessary elements that make it possible to set up a new shop as soon as possible.

Interruption of business

When your business property is impacted by a disaster, you are likely to endure an interruption of service. Income will be limited during this time period and may be eliminated altogether. At the same time, expenses, such as payroll, utilities, and replacement inventory, continue to come in and must be met.

Commercial insurance policies can cover the interruption of business. To ensure your policy is adequate, make sure to pick a monthly income limit that adequately covers your necessary expenses. This will help you restore services to clients and customers as soon as possible.

Agents at Gallina and Sons serving Pittsburgh, PA can help you review your coverage needs and draft a policy capable of helping your business weather a variety of storms.