We know that choosing the right type of commercial insurance to protect your personal property can be challenging. We specialize in all types of commercial insurance, including personal business property insurance.
Recover Your Business Assets
Personal business property insurance in Michigan will help you when certain types of disasters strike. You will then be able to use the insurance payouts to help you repair or replace your damaged equipment.
Personal business property insurance will insure your business property against loss and damage. This includes property such as equipment, computers, supplies, inventory, offices, and more. This covers nearly anything your business needs to operate.
Specific Event Coverage
Personal business property insurance covers damage sustained as a result of specific events. These events will be outlined in your policy. These perils include events such as fire, vandalism, theft, and some kinds of weather occurrences. With this coverage, you’ll be able to cover costs for repair, replacement, and cleanup. Your policy may even cover lost income if your business has to shut down.
At Taylor, Lord & Hughes, Inc. we can help you choose the right policy to fit your needs.
What Isn’t Covered
Typically, your policy covers any equipment or inventory damaged in the event of fire, theft, or some weather occurrences, but it usually will not include events like floods or earthquakes. It is essential to know what your particular policy covers, and to choose one that works for your needs.
Additionally, you’ll be able to choose either replacement-value coverage or actual-cash-value coverage. Replacement-value covers the cost of purchasing brand new items to replace your damaged property, while actual-cash-value coverage gives you a payout which is equivalent to the depreciated value of any damaged items.
Contact Taylor, Lord & Hughes, Inc. today and let us help you choose the best policy to cover your Michigan business assets. Reach out to our agents with your questions and for quotes.
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