What To Know About Building Insurance

Protecting your property and income is important to running a successful business. As a property owner, the added security of building insurance has the potential to save thousands of dollars should the unexpected happen.

Vandalism

Experts estimate the cost of damage from vandalism alone can run up to tens of thousands of dollars, even when theft is not involved. For example, damage to the structure or plumbing system may make a place of business uninhabitable and take days, weeks, or even longer before repairs are made and offices are safe enough for employees to return to work.

Natural Disaster

The National Centers for Environmental Information reports that in 2021, the United States suffered 20 disastrous weather events including floods, wildfires, severe storms, and hurricanes.  These types of events are predicted to increase, and the economic burden of these incidents exceeds $1 billion per storm, including the cost of repairs. 

Building insurance can protect you from the catastrophic costs of natural disasters such as these.

Don’t Forget To Update Your Coverage

Rebuilding and repair costs may fluctuate and increase over time. Remember to review and adjust your policy, as needed, to reflect these changes and to make sure you have the coverage you need.