As a business owner there are many specifics that are necessary for a successful and prosperous business. The purchase of insurance is the best way to ensure that as a business owner you are supported through mishap. There can be accidents that cause considerable damage to the building and the contents of that building. These damages threaten your livelihood and the prosperity of your business. By purchasing a solid business insurance policy, like building content & glass insurance, you can offset the costs of any damages. Certain insurance policies can be tailored to your specific business needs. Certain businesses should be extra sensitive to the cost of windows and the other glass products they have in their business location. Glass can be the most expensive cost in replacing or repairing a damaged business location. Glass coverage should not be overlooked when shopping around for a new commercial building insurance policy.
There are around 23 million small businesses in America. These account for almost 55% of all U.S. sales. The success and continuation of small businesses in the U.S. is vital to the nation’s economy. With all the small businesses there are bound to be bumps in the road in the form of damages or natural disasters. The need for insurance is high when so much is at stake. The cost of replacing an expensive window could be the difference in a business surviving a disaster. With small businesses providing 55% of all jobs in America, it becomes essential to have stability. Insurance provides a sense of stability because it offers support through tough times. There is also no better time to get insured then when first starting a business. In the last year, small businesses added 8 million new jobs to the American workforce. These new responsibilities increase the need for dependable insurance in the form of glass and building coverage.
Types of Building Business Insurance
There are three general types of building insurance that can be purchased by a business owner. There is the basic form, broad form, and special form. What kind you purchase all depends on what you need to be covered in the policy. If you have a lot of unique and expensive items in the building that wouldn’t normally be covered under most insurance policies than you should consider a special form insurance policy. Unique windows such as a tinted window or beveled window should be insured with a special form to reflect the high cost of replacement. This way, the insurance company has no choice but to honor the policy and replace the expensive aspects of a destructive accident.
Commercial property insurance is necessary because it helps protect property business whether it is owned or leased. In most cases a landlord is not liable for accidents on their property or the damaged items on the property. Windows fall under the jurisdiction of the business owner whether they own the physical building or not, especially if they are specialty windows. Certain commercial property insurance policies will do a lot for their clients when they are down on their luck. Some policies replace income when operations are suspended. Some policies have protection for accounts receivable if the computers or media is damaged in an accident. There is every opportunity to protect yourself as a small business owner by purchasing a comprehensive commercial insurance policy.
There are other options available to business owners so they can further protect themselves like liability insurance. Other options can cover a lot of different costs and many unexpected losses. It could cover the building and contents of a business owner caused by damages from natural disasters and unexpected accidents. This can include the costly windows that cover a building. If your business is located in an older, sophisticated space there is a great chance that your windows will be quite expensive to replace. With the help of commercial liability insurance you can be sure that some, if not all, of the cost of replacement will be covered under your policy. Glass coverage is important for any business to own.
Glass Coverage Insurance
With the business market constantly changing and evolving, insurance policies must meet that growth and expand with the market. There are constantly new add-ons to policies that better the building insurance policies for business owners. The builders risk coverage protects the building during the course of construction. If an expensive window is broken during the course of construction the insurance policy will pay for the replacement window. This reduces the number of setbacks to getting your business back on track. These kinds of policies specifically cover exterior grade floor glass that can extremely expensive to fix and costly to install. Certain insurance policies reflect coverage for specific kinds of glass in a business. It is important to catalogue every valuable in your business and include the structure of the building you work in.
Many insurance policies specifically work with owners to cover instances where there is a break-in or robbery. In these policies there are clauses that cover broken store windows. Many of the policies even specifically mention plate glass windows. These are specifically mentioned because it is a special type of window that is expensive. With a policy that mentions plate glass windows a business owner is sure they will receive the right window if they have to file a claim. Plate glass can costs anywhere from $1250 to $2300 to replace for an average window. The business won’t have to settle for a cheaper version of the window or worry about the future cost of replacement.
Plate glass windows are specifically mentioned in many insurance policies, but there are several different types of glass commonly used in commercial real estate. Beveled glass is used to create designs. It is used in large panels that create doors or side screens. Beveled glass should be insured individually because it is a specialty glass that is expensive to replace and must be done by a professional. There is a type of glass called smart glass that is also expensive to install because it has new technology that allows the business owner to save enormous costs on heating and cooling as the glass blocks UV rays. Tempered glass is a safer glass and as such is used in a variety of different buildings. Federal law requires any glass located with 18 inches of a floor or doorway to be tempered because in the event of any destruction, tempered glass is safer than other varieties. Tempered glass can cost up to $32 per square foot and even more than that for the installation fees. These three types of glass are all noteworthy because they are unique and the differences are important. By insuring the glass individually and specifically a business owner insures that in the case of damage they can get reimbursement for an exact replacement.
There are other types of glass that should be insured individually. Tinted glass provides additional security and privacy. Laminated glass holds together when shattered and provides additional safety to your employees. It is used whenever there is a possibility of human contact with the window. Skylights are a good example of when it is necessary to used laminated glass. Without the help of glass coverage businesses wouldn’t have the luxury of paying for a replacement laminated skylight window without big financial repercussions. Most windows will be covered under burglary insurance, but that would require proof of burglary or attempted burglary. Also, in order to assure that you receive the same quality and type of window you need to have glass coverage insurance in your commercial building policy.
Glass coverage is most often used in tandem with another policy and it reflects the importance and expense of specialty glass that is commonly used in businesses. The rates will be higher for those businesses located in areas that are prone to earthquakes and other natural disasters. There is also an increase in rates for those businesses that are in areas with high burglary rates. There are benefits to glass coverage though, as some insurance companies do not count glass coverage as a mark against the policy holder and a claim for glass coverage will not affect future premiums. There are exclusions and restrictions to policies and a business owner should be sure to ask questions about exclusions so as not to be caught unaware. It is important to treat each kind of window individually and make sure they are completely covered by the building insurance policy.
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