Posted on May 19, 2014

New Jersey Businesses Weather The Storm With Business Insurance

New jersey weather insurance

When hurricanes, severe weather and snow storms hit, their devastation can often be felt across multiple states. With natural disasters such as Hurricane Irene in 2011, many states bore the brunt of property damage and injuries to the tune of billions of dollars. While the Federal Government assists states with disaster funding, residents and business owners must depend on aid to continue living and doing business while waiting for funding and repairs to complete.

Business owners can take a proactive approach to handle protection of their assets. Through strategic planning and appropriate business insurance coverage, companies can mitigate damages and be well ahead of taking care of property and income when disaster strikes.

Commercial property insurance protects companies from property damage to buildings and structures as well as furniture, equipment, computers and inventory. A special endorsement can also be added to protect business income as well. This coverage, called business interruption insurance, will pay business expenses while a company is closed for repairs due to a covered event such as snow, fire, hurricane or flood. Especially important to note is that hurricane and flood coverage is excluded from standard commercial property insurance policies. Businesses must purchase separate policies to cover hurricane or flood damage.

Emergency preparedness and proper planning can help New Jersey weather any storms that Mother Nature brings. Be sure to review existing policies to make sure that every possible risk is covered, and if coverage is found lacking, our insurance professionals are available to assist in evaluating your company exposures and help you determine what insurance policies are right for your business.

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