Beyond the Basics: Three Things You May Need to Add to Your Insurance Policy

A basic commercial policy is important for any company but often leaves large gaps in your coverage. If your business only has basic coverage, you may wish to see a new insurance quote for business property in Ohio that provides extensions and additional policies.

1. Equipment Breakdown Coverage

A basic policy may not be enough to protect the contents of your building, including equipment crucial to your company’s operation. Mechanical breakdowns or other damage can cause huge losses in revenue if you do not have proper coverage. You should be sure your insurance quote for business property in Ohio includes equipment breakdown coverage.

2. Business Interruption Coverage

If you experience a major loss, your business will likely suffer lost revenue in addition to property damage. A basic policy likely will not provide additional money to keep your company afloat while you make repairs or replace equipment. Business interruption coverage can help bridge that gap.

3. Commercial Flood Insurance

Flooding is one of the most common exclusions from basic insurance policies but it can be one of the most damaging occurrences. If your building is at risk of flooding, it is important to include an additional policy.

An insurance quote for business property in Ohio should include much more than just a basic commercial property policy. You should think about what types of additional coverage you may need and check that they are included on your quote.