Your Commercial Property Have Adequate Coverage?

Texas doesn’t have a standardized system for commercial property insurance. Each business has a different set of operations and risk factors. Whether you own an existing property or plan to acquire an asset, it’s important that you have coverage that meets your needs. At the Noveri Insurance Agency, our professionals are committed to helping members of the Brookshire, TX community create or update an existing policy that doesn’t leave you underinsured.

Replacement Costs

It’s quite common for property owners to insure a structure at market value. Many people see a logical one-to-one correlation. Unfortunately, those two numbers seldom meet. In some ways, buildings depreciate over time. You’ll probably notice that older ones are less expensive than new construction. But if you suffer a total loss, the replacement will be based on the cost of today’s materials, labor and new building and fire codes. There could also be the additional expenses of razing, clearing, permitting and legal fees associated with rebuilding. It’s imperative that your policy meets the demands of realistic replacement costs.

Additional Endorsements

To properly insure your commercial property, it may be necessary to add specific coverages to an existing policy. These may include:

  • Newly Acquired Building: This coverage insures you in the event a new structure on the premises is damaged before notifying the insurance carrier of its existence.
  • Business Interruption: This coverage compensates your losses while the property cannot be occupied or business cannot operate.
  • Employees Personal Property: This covers your workers’ items in the event of a loss.
  • Boiler and Machinery: This coverage helps compensate losses caused by malfunctioning heating and cooling systems and other industry-specific equipment.

Creating a new commercial property policy or upgrading and existing one can be complicated. There are a tremendous number of issues unique to your property that require careful consideration. At Noveri Insurance Agency, we work closely with members of the Brookshire, TX community to create a comprehensive policy that meets your individual needs and gives you a sense of security.