The type of commercial insurance coverage needed is different depending on the kind of property and its use. For example, commercial property that is used for a retail store needs a different type of insurance than commercial property used for a food establishment. There are also differences between insurance for apartment buildings and condominium complexes.
The agents at Paragon Independent Insurance Agency serving Plano, TX understand these special needs.
Commercial Property Coverage for Retail Operations
Retail operations are unique because they typically have lots of customer flow. There is a need for additional security efforts and insurance in the case of shoplifting in such stores. There is also a need to have insurance for slip and fall accidents, which are common in such environments.
Fast Food Service
In the fast food business, the insurance needs to protect the customer while physically at the premises and to protect the customer from contamination or illness contracted from the food being served. Many fast food retailers have been hit with major lawsuits based on the quality (or lack thereof) of the food being served. Insurance coverage for such key issues is important.
Insurance Assessment Mitigates Risk
Insurance risk includes what happens on site at the store. It also includes what happens before and after products come into the store. Product liability extends to when the products leave the store to be used by consumers. A comprehensive insurance coverage plan takes all of these factors into account and checks the insurance coverage that currently exists to look for areas where there are “gaps” in insurance coverage to fill those gaps.
Commercial Rental Property
Commercial insurance is important for rental properties. Owners buy it as a form of property insurance to protect their structures and property from damage while renting out their property.
What to do now?
Contact the good folks today at Paragon Independent Insurance Agency serving Plano, TX for a free evaluation of all commercial insurance needs. Insurance coverage delivered with a smile.