Long Beach Business Property Insurance Basics by scottsiders

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Long Beach business property insurance is essential for any business owner. It’s one of the most important investments your company can make because it protects you from the financial losses your business may experience due to a wide variety of perils. Before you start shopping for the right business property insurance for your company, let’s take a look at the basics:

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									Long Beach Business Property Insurance Basics

Long Beach business property insurance is essential for any business owner. It’s one of the most
important investments your company can make because it protects you from the financial
losses your business may experience due to a wide variety of perils. Before you start shopping
for the right business property insurance for your company, let’s take a look at the basics:

What does Long Beach business property insurance protect against?
Business property insurance will help cover the cost to repair or rebuild the property necessary
to get your business back up and running with as little disruption as possible. This includes
damages due to fire, theft, vandalism, accidents, explosions, certain types of natural disasters,
and other events that may impact your ability to conduct business.

What does business property insurance cover?
Long Beach business property insurance generally covers damage to your company’s physical
buildings, assets, and equipment. Depending on your policy, this can include everything from
damage to the outside structure, signs, and fences to inside contents such as inventory,
furniture, supplies, and even valuable documents.

What does Long Beach business property insurance not cover?
Business property insurance does not usually cover earthquakes and floods. It also doesn’t
provide coverage for other important aspects of your business that need to be insured.
Workers’ compensation, disability, health, life, and business auto insurance policies are written
separately. One of the many options available is to purchase Long Beach business property
insurance as part of a business owner’s policy, which will also include general liability insurance
coverage.

What types of business property insurance are available?
There are two types of business property insurance policies: a named-perils policy and an all-
risk policy (also known as special form coverage). A named-perils policy covers damages and
losses due to the particular events named in the policy. An all-risk Long Beach business
property insurance policy covers all events except those specifically excluded.

What affects the cost of business property insurance?
Many companies get the most benefit from an all-risk policy, but these types of policies
typically have higher premiums. You can also get more protection by adding coverage for
specific perils, if necessary.

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The type, size, and location of your business are also considered when assessing which risks are
most likely to affect your business. In addition to these factors, the cost of your Long Beach
business property insurance premiums will be determined by your decision to purchase either
actual cash value or replacement cost business property insurance. Actual cash value takes
depreciation into account, reimbursing the current market value of an item. Replacement cost
insurance covers the cost to buy a new item without considering depreciation. Although
replacement cost insurance has higher premiums, it may ultimately be the better value
depending on your business needs and the type of peril experienced.

What if you lease or rent the property?
If you lease or rent the property where you do business, the building itself will most likely be
covered by your landlord’s insurance. This, of course, does not include coverage for the
building’s contents. You will need to purchase Long Beach business property insurance to cover
your equipment, inventory, and other property specific to your business.

As you shop around for the best business property insurance for your company, remember that
the type and the amount of insurance can be customized to suit your unique and evolving
needs. Contact a Long Beach business property insurance agent to find out how your
company’s property can be protected against most risks by visiting www.KellyWilliamsIns.com
or calling 562.498.8661.




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