5 Things Affecting Your Commercial Insurance Premium

No matter the type of business you own, it’s important to have the right commercial property insurance coverage in Orlando. Your business is more than the property and employees making it up; it’s also your source of income. You need to protect all aspects of your company from harm, and a commercial insurance agent has the knowledge and experience to help you decide upon the best protection for your business.

Questions That Affects Your Premium

Whether you’re looking for a Business Owners Policy, a Commercial Package Policy or just the standard Commercial Property and General Liability coverages, the following things affect the final cost of your premium for commercial property insurance coverage in Orlando.

  • How close is your business to the shore?
  • Do you have a large or small business space?
  • Does your business exist in a high-risk area or conduct hazardous activities?
  • How old is the building within which your business resides?
  • What type of equipment does your business use?

Make Sure You Have the Right Coverage

Orlando’s geographical location means hurricane damage is a danger your business has to contend with beyond the regular threats of theft, fire and liability. It’s important to have your commercial property insurance coverage in Orlando reviewed on a regular basis by a trusted commercial insurance representative. You work hard to make your business a success, and you should take the time to ensure your insurance coverage is adequate to your needs.

Safety and Insurance Rates

The safety of your commercial property is obviously important, and you likely do everything within your power to ensure that and risks or liabilities are minimized. Even the most careful property manager can overlook simple precautions, though, and this can significantly affect your commercial property insurance coverage in Orlando. Read on to see how safety affects your insurance rates.

The Safer You Are, the Lower Your Rates

Rates for commercial property insurance coverage in Orlando vary and are determined by a range of different factors. It is true, however, that safety may lead to lower rates. There are many ways to improve safety and the insurance rates you encounter. The following safety issues are good examples of factors that may be considered:

  • Crime rate in the area
  • Presence of toxic materials
  • General hazard level
  • Stringency of security measures
  • Likelihood of inclement weather or flooding

Be Safe and Get Insured

Investing in commercial property insurance coverage in Orlando is one of the best ways to invest in the safety of your property and protect yourself from the cost of damages that may occur. You should take strides to improve its overall safety in other ways, too, such as improving security or eliminating unnecessary hazards. These steps can greatly improve your peace of mind and make your commercial property much safer.