There are various types of commercial insurance in Tinton Falls, NJ. Property coverage addresses damage to your building from vandalism, including graffiti and other marks. Most general business policies also cover theft in the event of looting. However, there are a few things to know.
Common Exclusions
Common policy exclusions may result in your claim being denied. Some exclude civil unrest in areas prone to riots or require owners to purchase additional coverage. Many also exclude terrorists. That means that if the acts are labelled as acts of terror, the company may deny the claim. It’s crucial to speak with an agent at York Jersey Underwriters, Inc. to learn more about your specific policy.
Lost Income
Business interruption coverage is an additional coverage option that can help business owners forced to close their doors due to a riot. This coverage can provide compensation for lost income, including wages. It can also include coverage for ongoing expenses, such as utility bills, that you’ll have to pay even though the business is closed.
Many comprehensive business policies include this, but offer limited coverage. You can purchase additional coverage to protect against financial losses during civil unrest.
Coverage Limits
While most policies will provide coverage for damages incurred during riots, there are always coverage limits. It’s important to estimate the cost of potential damage and speak with an experienced representative about your coverage limits. For example, obtain an estimate to replace the windows and confirm you have sufficient coverage to replace them all if they’re damaged.
We understand how stressful riots can be for business owners. Agents here at York Jersey Underwriters, Inc. will work with you to ensure you have the coverage you need. We’re currently serving the Tinton Falls, NJ area. Contact us today to learn more!
