Protect Your Assets and Inventory with Commercial Property Insurance

Given that you have a place of business, you have a commercial property. People come on to your property to conduct commerce. It ought to be easy. Would-be customers carefully scrutinise your goods and services, worry a little bit as they complete some mental arithmetic, and ultimately trade their money for your stuff. That's why it's called "commerce." What could possibly go wrong?

That's why it's called "commercial property insurance." Your commercial property insurance anticipates and protects you, your business, your inventory and assets, your property, your employees, your vendors, and your beloved customers against everything that could possibly go wrong while people conduct business on your property.

A little more specifically, it protects you while you do business; it protects your property from damage or loss at the hands of your less-than-preferred customers; and it protects your customers from the hazards they pose to themselves and others as they examine your wares or bid for your expert services.

Commercial property insurance protects you against personal injuries, damage, and loss.

Of course, your customers are great people, salt of the earth. Their fundamental goodness, however, does not guarantee their balance, concentration, and common sense.

Consider a simple example; In order to do business, you have pens in your work area. A customer comes in with her toddler, a lovely child really. While you close the deal with mom, toddler gets hold of one of your pens, naturally electing to put the cap in her mouth, where everything on earth sooner or later ends-up.

Just as naturally, your customer panics, the child chokes, mayhem ensues, a Heimlich manoeuvre is administered, a trip to the paediatrician is prescribed, and the customer feels neither pleased nor amused. The pen was your property, and the toddler choked on your property, and you failed to warn everyone about the dangerous inked instruments you so carelessly had strewn all about. Therefore, it is all your fault.

And you must pay - not just for the doctor visit, but also for everyone's emotional trauma, and their loss of the enjoyment of life. You need commercial property insurance to protect you against all of that.

The greater your liability, the more you need commercial property insurance.

Consider a slightly more complicated example: You buy old cars. You have a special fondness for MG's. You restore them to better-than-new condition. Then, you sell them. You think of it as an advanced hobby or a side job; it never occurs to you that, under the strictest terms of the motor trade, you are operating a business from your property. In the normal course of pursuing your passion for Midgets and "B's," you invite a teen-ager to test drive one of your machines.

Before he reaches the end of your driveway, he collides with two trees and your own child's bicycle, destroying the car's classic grille work. Neither your regular car insurance, nor his regular car insurance, nor your homeowner's insurance, nor your wife's bingo money will cover this loss. But your commercial property insurance has you covered. This is why you purchased commercial property insurance and kept it up to date...

About the Author:
Neil Anderson is a UK based finance specialist. Find out more information about Commercial Property Insurance at his preferred site http://www.flintinsurance.co.uk/

 

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Date Published : Mar 31 2011