Commercial Considerations and Insurance
What Does Storm Insurance And Coverage Actually Cover?
While the winter provides its fair share of concern, from burst pipes to ice coverage, the spring, with its severe weather conditions, provides a heightened sense of anxiety, especially among commercial property owners. Granted, most commercial policies include storm insurance and coverage, but what does that actually cover? What are the likely losses covered in storm policies and what aren't?
1. Falling Trees and Storm Debris
Commercial insurance coverage will cover damages from falling trees and other debris as long as the cause was the storm. Therefore, if the high winds of a storm uproot landscaping and hurtle it toward the building, then the insurance plan will probably cover the damage. However, if there was an existing issue with the tree, like root rot, then your claim might be denied.
2. Wear and Tear
With storm insurance, as with any commercial policy, a loss is only covered when it is unexpected, not when it is a result of negligence. Therefore, if you have a leaking roof that you have ignored, and then a storm comes through making the leak worse, then your insurer will likely reject the claim for roof damage. Insurers protect against the unexpected, not the known.
While most policies will cover damages to contents within the building, a set dollar allotment for coverage is based on specific values. You will want to make sure that your coverage is enough to cover the cost of replacements for furniture and equipment.
After a storm rips through your area, you might need a storm remediation specialist in the Yava, AZ, area. Thankfully, your commercial policy will probably help to cover any restoration or mitigation costs. However, the values are often based on the costs of a rebuild and not market value.
Storm insurance is tied into your commercial policy. While it may not cover everything, storm coverage does help to mitigate some of the potential expenses. Therefore, review your policy and know what to expect the next time a storm comes around.