No matter where you operate your business, there will be risks associated with doing so. In some cases, vandals are a part of those risks. Vandalism can be quite powerful and problematic. Not only does it lead to limitations on your business’ ability to operate, but it can be costly to repair the damage.
Business owners looking to protect their investments will often need to have comprehensive business insurance that provides protection against vandalism. Do you have enough coverage to help you replace your damaged sign, for example?
Is Your Business Sign Covered by Business Insurance?
Most businesses have property insurance in place. Property insurance covers your building's structure—such as the building itself—as well as contents within your building. In addition, it will usually cover other structures on your property. In most cases, this includes signage. It is important to ensure your business' signs are listed specifically on your policy. This is especially important if those signs are not located on the actual property itself or are some distance from the building. Be sure to discuss this with your insurer before you select any type of coverage.
What Can Your Insurance Do?
Most property insurance policies have a set limit. This is the maximum amount the insurance company will cover. As long as the damage to your sign, whether it is repairs or replacement, are under the policy limit, you can receive the coverage to replace it. That is important to know. You may want to increase the value of your coverage if your signage or other building components and structures are of high value.
If and when an incident like this occurs, contact your insurance agent. An adjuster will come to your location and inspect the damage. They will then have an estimate created to replace or repair the sign as needed. Once this is done, the sign can be repaired and you do not have to think about the claim again. Keep in mind that insurance does not cover damage caused by preventable instances, as well as any type of damage you cause yourself. Talk to your agent today to find out if your coverage is in place.
Are your signs covered? Call Interstate Insurance Services at 641-792-7316 for more information on Iowa business insurance.