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Getting Commercial Insurance? Two Absolute Must-Have Riders

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If you're getting insurance for your business, you may be a bit confused.  Commercial insurance operates very similarly to residential coverage, but there are some subtle differences.  You need to make sure that you have the protections in place that can protect your business.  Use this information to learn more about two must-have riders to include in your policy to make sure that you bind a policy that offers you the best possible coverage.

Scheduled Commercial Property

The first thing you want to do is make provisions for your specialized commercial property.  There are certain things that you may have in your possession that are not covered under the blanket policy.  This is why you need to schedule them.

For example, if you run a small call center that has a number of computers, desks and chairs, these items may be considered covered if a fire occurs.  However, there is a monetary limit to what can be taken care of, and you may have invested a considerable sum in making sure that your new, top-of-the-line computers feature the finest in data trending software.

Write these things into your policy.  Talk with your insurance broker and make sure that you keep good records.  This includes keeping all receipts for the software that you've purchased, and even making videos with your cellular phone that show you downloading the data into the computers.  Keep this information in a fireproof safe so that if something happens, you'll have the evidence you need to make a convincing claim.

 Extended Theft Coverage At Home

If you frequently take your work home, it's vital that you purchase a rider that extends coverage to another location.  Some insurers won't cover business property that may happen to be at your home, and you may also find that your homeowner's policy isn't sufficient to pay for the damage.

An example of this is deciding to work from home a few days of the week.  To do this, you take a work computer to your house.  If your home happens to be burglarized during this time and the computer is taken, you don't want to be left out in the cold because you failed to add an at-home rider to your policy.

Getting the right commercial insurance doesn't have to be difficult if you know what to do.  When you're ready to purchase your next commercial insurance policy, keep these tips in mind so you can add-on the right coverage. For more information, contact a business such as Matlack & Company.