Insurance that protects the physical property and equipment of a business against loss from theft, fire or other perils; all-risk coverage covers against all risks; named-peril coverage covers only against specific perils named in the policy.

Policies can be written on an all-risk basis or a name-peril basis. All-risk policies will cover you for virtually anything (except for a the specific enumerated exclusions)

Replacement cost insurance will replace your property at current prices, regardless of what you paid for it, and thus protect you against inflation. However, there's usually a provision that your total replacements can't exceed the policy cap. For example, if you have a 45,000-square-foot facility that would cost $40 per square foot to replace, the total replacement cost ($1.8 million) may exceed your $1 million policy limit. To protect yourself, you may want to buy replacement insurance with an insurance guard, which adjusts the cap on the policy to allow for inflation.

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Early Questions to Review when looking at Property Coverages

 Reviewing your policy limits from time to time with a Choice Insurance Professional makes sure you have optimal coverage.

Contact David Connelly the Manufacturing Insurance Specialist today.