- Special Form Causes of Loss
- Replacement Cost
- Flood Coverage
- Earthquake Coverage
West Insurance Brokers, Inc. works with over 30 Property Coverage Carriers who provide competitive pricing for Building Coverage, Business Personal Property Coverage, and Business Interruption Coverage. Our carriers are A Rated and they insure with Special Form Causes of Loss to provide Property Coverage on a Replacement Cost basis.
With Property Coverage we make sure that our clients’ assets are protected by setting adequate limits of insurance that are sufficient to replace or repair our customer’s property in the event of a claim. Building Coverage Limits of Insurance Limits should be adequate so you are not subject to a co-insurance penalty that causes you to receive cents on the dollar to repair your damage. Building Ordinance Coverage should be added so that building code updates are covered by your insurance coverage in the event of damage to your building.
Your Business Personal Property Coverage insures your movable items at your location including computers, office furniture and equipment, inventory you hold for sale, parts, raw goods, work in progress and stock. You want to make sure that your Business Personal Property Coverage is sufficient to cover your movable property so you have limits of Business Personal Property Coverage that meet or exceed the property values you list on your Balance Sheet.
In the event of a fire or a significant water damage claim, Business Interruption Coverage can pay for loss of income and ongoing expenses associated with your business. Examples of ongoing expense could be the essential payroll for your staff, mortgage payments if you own your building, rent if your lease does not allow your rent to abate in the event of a fire, moving expenses to a new location, increased rent because of a forced move, equipment leases, copier leases, auto leases, utilities, and insurance. Income is essential at the time of a large claim and you want to make sure that you have Business Income protection for your business and that you insure your profits.
With Special Form Causes of Loss the insurance coverage does not pay claims due to Flood and Earthquake. Flood Coverage and Earthquake Coverage need to be individually arranged to provide coverage for your Building and Business Personal Property.
West Insurance Brokers, Inc. agents are available to review your Property Coverage, discuss the makeup of your assets and make sure you are comfortable with the insurance limits you select for your protection.