Commercial property insurance not only applies to your building and business personal property, it can also include coverage for losses of business income and the extra expense to keep your business running after a loss. At North Risk Partners™, our agents and service staff take the time to understand your operation. By doing this, we can offer options to eliminate property coverage gaps which could include coverage for such things as equipment breakdown, boilers & machinery, money & securities and data processing equipment. We will work with you to balance deductibles, valuation, and coinsurance to keep your insurance costs under control and within a risk tolerance that works for you.
Here’s a sample of questions that we can discuss with you to determine the best answer for your unique business:
Is market value or tax-assessed value a true reflection of your property’s replacement cost? When should we use Replacement Cost, Functional Replacement Cost, Actual Cash Value or Agreed Valuation?
Is it cost-effect to spend a little extra now and to insure to value, to avoid a coinsurance penalty in the event of a claim?
When does it makes sense to increase, decrease or self insure?
Causes of Loss
What exposures are you trying to cover? Will your insurance cover storms, fire, theft, flood, freezing, power-surge and other causes of loss?