Purchasing a commercial insurance policy does not necessarily mean that you have properly covered all of the potential problems that may occur in Lafayette, Colorado. Depending on the plan that you purchased and the purpose of your coverage, you may or may not be able to make a claim if you face a power failure, frozen water pipes or a collapse due to snow and ice accumulation on your roof.
The Plan You Purchased
Before you can determine if you have coverage for your situation, evaluate the plan that you purchased. Find out what you covered in your policy so that you can determine if your insurer will include property damage as part of the policy.
A commercial policy that is designed to protect against liability may not pay for damages to company property. On the other hand, a plan that is designed to protect your business assets may offer some protection against problems with snow, ice and winter weather.
Amount of Protection Available
Every insurance plan is different, so the exact amount of protection that you have may vary. Some insurers may exclude damages from weather conditions or may have certain requirements that you must meet to qualify for reimbursements or repairs. For example, an insurer may require that you keep the heat in the building to a certain temperature to reduce the risk that your pipes may freeze.
It is important to evaluate your insurance on a regular basis when you want to avoid complications. In some cases, you may discover that your company is not protected against all of your worries. Contact the 1st American Insurance Agency to talk to an independent agent for more details about commercial insurance policies.