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Does My Business Insurance Protect Against Hazards Outside of My Office?

abbate-insurance-business-commercial-policy-new-havenInsurance coverage can extend to the great outdoors!

When businesses buy insurance, they’re usually concerned with protecting everything within the four walls. Whether your business has a custom-made exterior sign, outdoor seating, or a lounging patio, insuring the outdoor essentials are just as important as the computers, tables, and chairs.

Outdoor risks come by the handful: customers can slip and fall in your parking lot, signs can get blown into cars, and furniture can get stolen. While most business owners believe that such accidents and damage won’t occur to them…life does happen. The best form of protection for your company is a quality business insurance policy that extends to exterior!

BOP Coverage

A business owner policy (BOP) usually protects your company’s physical building, the interior furniture, and listed items in the interior. Some policies include coverage for furniture and art that is stolen or damaged within 100 feet of your company building.

Should a storm or inclement weather cause a tree to fall on your building, most business owner policies would aid repair and replacement. This is due to the damage occurring to your company’s physical structure – something covered by most standard policies!

Furthermore, if a customer was to slip in your car park and file a lawsuit for the medical expenses, BOPs would cover their medical bills and other financial losses related to their injury, minimizing the impact and financial strain to your business.

Further Protection
While a BOP is worth its weight in gold, there are some outdoor situations that may not be included in your protection.

Should your business have the following, you may want to consider additional coverage:

  • An outdoor sign that isn’t attached to your building
  • Outdoor fences, antennae, or satellite dishes that are yours that are damaged
  • If your company has extensive outdoor landscaping
  • outdoor tables, chairs, heaters, or other exterior fixtures

Each company should obtain ideal commercial insurance that suits their individual needs, budget, and business. To protect your business (inside and out!), contact Abbate Insurance in New Haven, Connecticut today.