Should My Commercial Property Insurance Stay Or Go?

Let?s face it; the global economy has certainly seen better days than what it?s seen over the last year or two. This has resulted in many businesses going bankrupt while others have been forced to take drastic measures just in order to stay afloat.Many business owners have even gone as far as cancelling their insurance policies in an attempt to reduce their monthly outgoings. Even though this line of action may very well help you to save money in the immediate future, it can also be a catastrophe waiting to happen.The biggest advantage to be had by cancelling your commercial insurance is that you could essentially save a great deal of money, which in turn could go towards other aspects of your business. For those businesses that have not been affected by the current economic crisis, this may seem like sheer stupidity, but for those who have been severely hit, it is indeed a very attractive option.Of course if some unforeseen disaster did strike, and you had already cancelled your commercial insurance policy, the chances are your business will be unable to recover. In fact, the vast majority of businesses would be unable to recover without assistance from the insurance companies, and this is exactly why insurance is fundamental to any type of business.Many people tend to believe that it is only large businesses which can benefit from commercial insurance, but the truth is, even small businesses stand to benefit. Irrespective of how big your business premises are, there is always a possibility that a fire may break out, and of course fires usually tend to make short work of anything and everything that stands in their way. Not only do fires destroy the contents of a building, but in many cases they also cause irreversible damage to the actual structure of a building.Flooding and burst water pipes are another common cause for concern. Even though a burst water pipe will very rarely result in the loss of life, it can still cause extensive damage, and in a worst case scenario, it could mean severe losses in terms of damaged stock and merchandise.Storms can also result in thousands of pounds worth of damage. For example, strong winds often end up blowing down perimeter fencing, signboards and security lighting. Roof tiles also often become dislodged because of strong winds, and this in itself can cost thousands of pounds to repair, particularly if the existing tiles are no longer being manufactured.As any insurance company can attest to, the winter months are their busiest months of the year. Most of the ergo carrier sale claims they receive are a result of storm damage, flooding, and burst water pipes. The winter months also bring with them many ergo baby carrier australia liability claims. More often than not this happens when members of the public slip on snow which has not been cleared away sufficiently, because remember; if it?s your business then it?s your responsibility to make sure people have safe access to your premises. Even a minor injury to a third party can amount to tens of thousands of pounds, and without ergo baby carrier the right type of commercial insurance in place, you?d be left to pick up the tab yourself.

Source: http://www.medicaltravelclub.com/qa/2012/08/should-my-commercial-property-insurance-stay-or-go/

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