In such a risky environment, you can’t afford to not have the right insurance coverage on your manufacturing business. With heavy, dangerous and high-priced equipment being in constant use, the likelihood of an expensive accident happening is high. To make sure you’re protected against such risks, you should ensure that your Orlando manufacturer insurance policy includes an adequate amount of property insurance.
Commercial Property Insurance Explained
Commercial property insurance offers funds to repair or replace your buildings, materials, equipment, furniture and electronic property in case of a fire, vandalism, theft and certain weather-related events. If your damaged or lost property slows down or brings your operations to a halt, business interruption coverage can be included in your policy to pay for lost income, ongoing expenses such as employee salaries and certain relocation expenses.
Add Equipment Breakdown Coverage
You can also choose to carry equipment breakdown coverage to supplement your property insurance. It covers any breakdowns due to events ranging from power surges to operator malfunction and will reimburse you the cost to repair or replace the equipment as well as any lost income.
The key is to make sure that when you sign up for your new policy, you place a proper valuation on your property so that you can be appropriately reimbursed when the time comes. An agent experienced in Orlando manufacturer insurance can help you get the necessary coverage.