Coverage you need before the unexpected occurs.
Commercial Earthquake Insurance to meet the needs of your unique business.
No matter what kind of business you own, insuring your business and the property it’s on is essential. However, coverage for earthquakes is often overlooked and is not typically covered under a general business insurance policy. Protect your business from the unexpected with commercial earthquake insurance.
Without it, you pay for damages out of pocket.
Many business owners assume that their business insurance policy covers them in the event of an earthquake. The truth is, most of them are wrong. In fact, most business policies don’t include coverage for earthquakes specifically, which means that without coverage, you’d be stuck with the bill for:
- Damage to the building.
- Damage to your stock, equipment, and machinery.
- Loss of rental income. Even though your mortgage payments will continue, your rental income may not be there to help pay for it.
- Loss of business income if your operations cannot continue.
How much does commercial earthquake insurance cost?
The good news is that when you have the proper coverage, the costs may be covered by your commercial earthquake insurance policy. The cost varies depending on a number of factors that are based on the property itself. These factors include:
- Building Age
- Construction Materials
- Replacement Cost
- Distance to a Fault
- Soil Conditions
- Foundation Type
Benefits of protecting your business from earthquakes.
Commercial earthquake insurance generally covers damage to your building and business property. Depending on your policy, income loss that is caused by an earthquake may also be covered. Earthquake policies often have high deductibles—anywhere from 2% to 20% of the value of the building—but are significantly less than the cost to repair or rebuild in the event of an earthquake.
Make sure you are prepared for the unexpected by having the proper coverage for your business. Contact us to discuss your options and to find the right coverage your business needs.
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