Posted on May 17, 2014

Why Your Illinois Business Must Have Storm Insurance

Storm insurance illinois

The recent headlines for storms, floods and tornadoes in Illinois read like a fictional novel rather than the very real events that Illinois and other Midwest citizens have endured over the last few years. Tornadoes greatly affected the state in 2011, and if the beginning of 2012 is any indication, Illinois residents and businesses must prepare for an above normal tornado and severe storm season.

All Illinois businesses should have emergency plans in place in case of a disaster, but even more important is fully protecting the company with the right commercial insurance coverage. The violent winds caused by tornadoes can cause damage over large areas even without a direct hit so business owners must obtain enough property insurance to cover repairing or replacing buildings and business personal property contained inside them.

Companies face a larger risk of property damage and potential business shut down in the event of severe storms. Commercial property insurance will pay for the property damage while business interruption insurance will protect the company's income. This coverage protects companies when a covered event such as a tornado does damage and the company must be closed for repairs. Business interruption will pay the bills while the business is closed so that the company can stay in business.

Most commercial insurance policies will provide coverage for loss or damage related to weather such as wind, hail and tornadoes. Business owners need to make sure that the appropriate insurance coverage is in place prior to the stormy season. Fully evaluate the coverage amounts so that should extensive property damage occur, there will be enough insurance available to cover all the damages.

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