Posted on May 17, 2014

Why Every Georgia Business Needs Tornado Insurance

Tornado business insurance

All over the southeastern United States, severe storms, hail, tornadoes and hurricanes seem to be increasing in intensity and damage. In 2011 alone, Georgia residents experienced over $75 million in damages from windstorms including strong wind, hail and tornadoes.

Businesses located in higher risk and coastal areas will often have coverage for wind, hail and tornado damage excluded from the policies. Instead, business owners must purchase windstorm insurance separately. Private insurance carriers provide specialty wind/hail policies for high risk areas in most states, but the State of Georgia sponsors a windstorm insurance coverage pool for those in coastal and high risk locations.

In order to fully protect their business assets from the potential financial devastation associated with windstorm activity, Georgia businesses must make sure that they have commercial insurance available that will cover windstorms and tornadoes. Many business property insurance policies will automatically provide coverage for weather related events; however, it is always a good idea to review existing policies to make sure tornadoes and hurricanes are covered.

Just having commercial property insurance coverage is not enough. The cost of repairing or replacing tornado damaged buildings can far exceed many policies. Add to that damage to building contents, and the cost to replace inventory, computers, furniture and equipment begins to quickly add up. Companies want to also make sure that the property policy limits are large enough to cover severe property damage or destruction.

While the chances of experiencing damage from wind, hail or tornadoes may not seem likely, the risks becomes more common each year. It is always better to be prepared with the right business insurance protection than to have a natural disaster occur and be left with no way to repair or replace vital business buildings and equipment.

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