Review Your Commercial Policy for Winter in West Middlesex

12/14/2022 (Permalink)

Reminder for business owners to look at their commercial insurance policies before the inevitable cold that is about to come.

“Winter is Coming.” As common as this saying is from the popular TV series Game of Thrones…Ned Stark had one thing right. It is coming, and there is no stopping it. SERVPRO of Mercer and Lawrence Counties is here to remind our New Castle, Ellwood City, Bessemer and surrounding areas business owners to look at their commercial insurance policies before the inevitable cold that is about to come.

• Have you looked at your commercial insurance policy lately? Just knowing when your insurance expires, how much your deductibles are, and what your policy number is---are all very important pieces of information to have prior to having any disaster. You may not have access to these documents after a loss. Therefore, it’s very important to know this information and have it stored somewhere else besides the office.
• Make sure you have Business Interruption Coverage. Just so you know---there is usually a waiting period with this coverage where you must pay out of pocket before the coverage ‘kicks in.’ Make sure you know how long, have the funds to cover the waiting period, AND KNOW THE EXCLUSIONS. Talk with you agent to determine what losses are actually covered by this coverage and notate them.
• Inventory your expensive business personal property. It’s 2022! Take pictures with that smart phone of yours and make a detailed spreadsheet on what your equipment is, how much is it worth, and when you bought it. Go over the larger, more substantial pieces of property or equipment with your agent and ask if they need scheduled on the policy, or if they are picked up by your business personal property coverage. If they are off-premise, such as stored at your home, make sure your agent knows this too, so he/she can notate the property address properly on the policy, or add an endorsement allowing you to be covered away from the building. Most property is only covered when at the location address, unless endorsed differently.
• Make sure to add Sewer and Drain Back-up to your policy. Most property policies contain a broad water exclusion that precludes damage caused by water that backs up or overflows from a sewer, drain, or sump pump. First reason is…this is super affordable to do so! Secondly, the business would not be covered against a water loss caused from sewer, drain or sump pump back-up without it.

All these things are great to look at for the cold weather. Especially when it comes to freezing pipes, heavy snow on the roof or space heaters being on at your New Castle office. Any of these things can result in disaster and, as a business owner, you must try and be as prepared as possible. And when you are not--- SERVPRO of Mercer and Lawrence Counties has you covered. We are available 24 hours a day, 7 days a week, 365 days a year, and we specialize in water and fire disasters. We are the restoration company you want to have on speed dial when things go wrong. Should you need us for any disaster this Winter call us anytime at (724) 704-8939.