When purchasing business insurance, your goal should be to choose policies that offer coverage designed to minimize the risks your company faces or could face in the normal occurrence of day-to-day business. Keeping that in mind, think about your property's utility lines.
Whether you run a restaurant or an office building, these lines move water and energy into your property and carry waste materials away. When something happens and they don't function as they should, your business may come to a halt until the damages can be taken care of. With the right business insurance, including utility line disruption coverage, you don't have to suffer the financial losses associated with such an instance.
What happens when the utility line coming into your business stops working? Perhaps a construction crew breaks the line. Perhaps a storm causes the electrical lines to come down. When this occurs, your business may be left unable to operate. You cannot serve customers when your business equipment isn't functional. You can't operate your business without running water. If you have the right type of business insurance in place, you can reduce the associated financial risks.
Some types of business insurance cover utility line disruption. You can also purchase a specialized component to your business insurance called utility line interruption coverage. This type of insurance helps to protect your company from the financial loss caused when such an incident occurs. Some coverage can protect against the cost of making repairs to those utility lines as well. Other property insurance covers the loss of business you suffer as a result if it occurs over a period of time.
Business insurance should be specialized to meet your company's unique needs. This includes having comprehensive business interruption insurance for utility line breaks. There are limitations to this type of coverage, but if the incident was an accident or unavoidable, it may be covered by your policy.
If you do not have utility line disruption insurance, now is the time to add it to your policy. It can give you the financial break you need when something goes wrong, shuttering your doors for an extended period of time.
Is your company protected? Call Budget Insurance Agency at (478) 788-9188 for more information on Augusta business insurance.