Commercial insurance in Bourbonnais, IL, can help protect your business financially in the event of a disaster. However, there are specific details you need to understand about your policy, especially when it comes to water damage.

Preventative Maintenance

Insurance companies may deny a claim if they determine the damage resulted from a lack of preventative maintenance. For example, if you are aware of a leaking roof and fail to repair it, any resulting water damage may be considered your responsibility.

Some policies specifically cover accidents, such as a burst pipe. These policies may provide coverage for the emergency itself, and you can inquire about coverage for inventory that may be damaged. Coverage details vary depending on the insurance company, so it’s important to speak with an agent at George Ryan Jr. Insurance Group Inc to understand the fine print in your policy.

Covered Perils

Property insurance policies include “covered perils,” which are specific situations your insurance will cover, such as fire, theft, and vandalism. However, many policies exclude natural disasters, such as tornadoes, hurricanes, and floods. To protect against these events, you will need to purchase additional coverage tailored to specific natural disasters.

Research the types of disasters common in your area and work with an agent to ensure your policy covers emergencies that are likely to occur.

Intentional Damage

Most policies exclude coverage for intentional damage caused by employees. For instance, if a disgruntled employee intentionally causes water damage, the claim will likely be denied. However, if the damage is caused by someone who is not an employee, it may be classified as vandalism and covered under your policy.

Consulting with an experienced representative at George Ryan Jr. Insurance Group Inc. can help you better understand what your policy covers. Contact us today to discuss water damage coverage. We proudly serve the Bourbonnais, IL, area.