01 Sep Save Money on Insurance – EastBay Commercial Properties
Save Money on Insurance – EastBay Commercial Properties
What does it take to be a successful commercial property owner in the East Bay area? Is it having a successful tenant or personal business operating on the property? Is it having the biggest and best property on the block? Maybe, but the more likely answer is that it takes good business sense to be a successful commercial property owner. Obtaining and maintaining the right kind of insurance makes for good business sense, and saving money on insurance for your East Bay commercial property is even better!
First of all- why do you even need insurance for your commercial property? For a simple answer, let’s just say “money.” There are a myriad of reasons why someone might sue you for damages. Maybe they were injured on your property. Their property was damaged because of an incident which occurred on yours. No matter what the situation, if you find yourself subjected to a lawsuit, you are responsible for paying any and all court costs, damages, and settlements. Without an insurance policy, that money comes from your own pocketbook. However, with the right kind of insurance policies, that money comes from the insurance agency- a benefit of paying them a monthly premium. This can mean the difference between a solid financial status and bankruptcy for most individuals.
The best way to save money on insurance for your commercial property is to find an insurance agent who understands your specific insurance needs. What kind of liability coverage do you need? Is the area prone to natural disasters? If so, what kind? Every commercial property will be different from the next, so it is reasonable to expect that each policy will be different. An insurance agent who understands these differences can save you money by only including the right types and amounts of coverage for your commercial property in your insurance policy.
Removing or removing potential risk factors is a second effective way to save money if you own a commercial property in the East Bay area. Installing proper lighting, ensuring that sidewalks are solid and even, and maintaining a clear line of vision for drivers are examples of risk mitigation steps that can be taken to reduce the likelihood that an incident will occur. As with all insurance policies, the lower the probability of an incident, the lower the premium. Keeping your property up to code will go a long way in helping you save money on your commercial insurance. Your agent should also be able to provide suggestions for identifying and correcting risk factors.
Owning a commercial property in the East Bay area is not an inexpensive venture. You have invested a great deal of time and money already, and likely want to protect that investment now and in the future. Purchasing a commercial property insurance package is the best way to ensure that your property (and therefore, investment) is financially protected. Speak with an insurance agent today to begin the process of finding a policy or two that fits your needs, and don’t forget these tips on how to save money on that insurance for your East Bay commercial property.
All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.