Recommended Insurance for Small Businesses

What happens when your small business is surprised by severe damage or a catastrophe, whether it’s from a storm, fire or unexplained event? Do you have the right insurance coverage? How do you make sure your business is protected?

What’s your next move?

Clarke & Cohen has been in the business of helping businesses for 99 years. We’ve learned a lot along the way and this is what we recommend you will need as a small business owner:

Property Coverage if you own the building.
This should not only cover the amount you paid for your building and the amount left on the mortgage, moreover, it should also cover a complete rebuild of your property in the event of a total loss. Additional coverages such as demo and debris removal and increased costs due to codes is available and should be added to your coverage.

Business Personal Property Coverage.
This includes stock, inventory, furniture and fixtures, equipment and supplies. If the contents you own are destroyed by fire or water, it’s important to have coverage for your inventory to help with maximum recovery. You can buy specific coverage on computers and electronic data processing equipment as well.

Business Interruption Coverage or Loss of Income.
Depending on the type and size of the loss, a business could be without a building or property for many months or even years. By having the correct amount of business interruption coverage, you could continue to be paid as if you were fully operational. Additionally, you could be paid to move your company to an alternate location while your original location is repaired. You can also get coverage for an extended period. During this time your business will be getting back to the level of income it was at prior to any catastrophic event.

In case of a loss, immediately call your public adjuster and have them visit your site.

That way, the adjuster will evaluate your loss. By having your public adjuster obtain a copy of the Insurance policy, he or she will be able to see what is covered. That allows them to move forward expeditiously with your claim. In a perfect world, your public adjuster reviews your policies when you acquire them. It provides you assurance you are maintaining the correct coverage for your needs.

By working with a public adjuster, you do not have to deal with the insurance companies directly allowing the adjuster will do all the ‘heavy lifting’.

At Clarke & Cohen Public Adjusters, located in Bala Cynwyd, PA, when you hire us, you get more than just an advocate.

You get an entire team of experts who understand your specific needs and will guide you through the difficult insurance world. This team may include a general contractor who will prepare a replacement cost estimate using current costs of materials and labor and understands the value of your property. It may also include a forensic accountant who will help with income loss. They will make sure everything is accounted for. Our adjusters have extensive experience with all kinds of property losses. We are here to help you navigate the entire claim process for maximum policy payment.