Business owners have several coverage options available when selecting commercial insurance. Policies in Oviedo, FL, may include protection for property damage, inventory, liability claims, and other risks. Coverage depends on the specific policies you choose.
Commercial Property Insurance
Commercial property insurance typically covers damage to the physical structure of your building and may extend to areas such as the parking lot. If a major event, such as a tornado, causes significant damage, the policy may help pay for repairs or replacement of the parking lot.
It is important to note that commercial property insurance is not always legally required. This means a business may carry other mandatory policies, such as workers’ compensation, but may not have coverage for its building or parking area. Working with an agent at Karla Salmon Insurance can help ensure you have the appropriate protection.
Covered Events
All commercial property insurance policies include a list of covered events and exclusions. These determine whether damage to your parking lot will be covered. For example, if a tornado tears up the pavement and your policy covers tornado-related losses, repairs may be included. If tornado damage is excluded, your insurer will not pay for repairs.
Normal wear and tear is excluded in almost every policy. Routine maintenance, repairs, and resurfacing are the property owner’s responsibility. Depending on your location, certain natural disasters may also be excluded.
An agent at Karla Salmon Insurance can review your policy in detail and explain exactly what it covers. Contact us today to learn more. We proudly serve the Oviedo, FL, area.
