Do you take the time to review your business insurance policy each year or do you simply sign the renewal notice? Everyone’s guilty of taking the easy way out at least once. But if you review your policy with an independent insurance agent, you may find that you’re missing some vital coverages, which you can then add on for complete protection. Let’s take a look at some of the coverages that are commonly overlooked.
- Leasehold Interest: Covers the remaining value of a lease if it’s broken early because of a covered loss. This one is only for businesses that rent their workspace.
- Business Personal Property: Covers a business’s property while it’s temporarily off premises. For instance, when employees travel with company laptops, this coverage protects them while away from the office.
- Landscaping and Sign: Covers damage to landscaping and outdoor signage, which is usually excluded or has very limited coverage under a standard business property insurance policy.
- E-commerce: Covers interruption of computer operation, data damage, cyber security and technology equipment. This type of coverage can get complex, so be sure to consult your agent.
- Transit: Covers the items shipped by your business. Carriers like FedEx or UPS provide very limited coverage, so adding your own on top is the best way to ensure the protection of shipped goods.
- Restoration: Covers the expenses of rebuilding after an extreme covered loss, including debris removal, construction, lost income and more.
This was a very brief overview, but your agent can explain these coverages in more detail and assess your business’ need.
Get the protection you need. Call Texas Insurance Agency at (713) 675-2626 for more information on Houston business insurance.