Choosing The Right Commercial Property Insurance

Before you can even think about what you should do after a storm hits, you have to make sure that you’re prepared on the front end. Both property renters and property owners must have some form of property insurance. Depending on your business model and budget, you may consider different types of coverage.

• Replacement Value Coverage - This type of property insurance offers the most protection against property damages. While you will pay more each month, it will cover the replacement value of anything that is damaged in a storm, accident, or other catastrophes.
• Actual Cash Value Coverage - This type of insurance is better suited for companies whose primary assets can be easily replaced with used or off-brand alternatives. It will cost less than replacement value, but you’ll want to speak with your insurance agent to make sure the savings justify a lower payout in the case of damage.

Regardless of what type of coverage you choose, when a storm damages your property, you’ll want to work closely with your insurance agency to sort out the costs and repairs. Additionally, you’ll want to work with a contracting agency that can vouch for you by offering commercial insurance claims assistance in Colorado or whatever state your property resides in.

Commercial Insurance Claims Assistance In Colorado

When damages occur to a commercial property, there are a lot of factors to consider. Is the damage severe enough that you won’t be able to operate? How long will the repairs take? Do the property repairs require special materials that could change the cost or timeline? These are all factors that a reputable contractor can help you determine.

First Thing Is First…

You’ll need to bring out both an insurance adjuster and a contractor that you trust. The two will both perform their own inspections to assess the damage. If you choose a contractor with experience in commercial insurance claims assistance in Colorado, they will be able to voice your concerns to your insurance company so that the entire scope of the damages are documented correctly. The right contractor can improve your chances of insurance assistance in the repair costs.

Navigating The Repair Process

After the inspections are complete, your chosen contractor will begin the repair process. They will walk you through the damage and the necessary steps for repair. Make sure that you communicate with your contractor so they can best accommodate your business needs during the repairs.

Settling A Commercial Insurance Claim

There are two key elements that can make or break your commercial storm damage repair experience: your insurance company and your contractor. Take your time when choosing both. Talk in depth with your insurance agent to ensure you have the right coverage for your business. When a storm hits, find a contractor with great reviews and experience with commercial insurance claims assistance in Colorado. If you do this, when you need storm damage repairs, your experience can be a breeze.

Contact Ethos General Contractors today for a free inspection if you’ve been hit by recent storms and think your property might need repairs.