If you’re a commercial property owner in Central Florida, you’re probably familiar with different types of insurance. If you’re currently thinking of updating your policies, you might want to consider visiting an agency that deals specifically with commercial property liability insurance in Orlando. That’s because, depending on the type of facility you own and the type of tenants you have, you may not be fully covered in the event of a certain losses under a generic policy.
Flood coverage is often not included in commercial property coverage. If you aren’t mitigating this risk, especially considering the weather in Florida, think about adding a policy to your portfolio.
Other risks often overlooked are those having to do with dangerous chemicals. Hazardous materials are more common than you might think: Businesses like gas stations and dry cleaners use chemicals that can contaminate the soil on a property, leading to expensive cleanup for which owners are usually held liable.
Expensive equipment , when damaged, can quickly exhaust the amount of coverage on your commercial property liability insurance in Orlando. However, that’s only if you don’t have specific terms to cover it in your policy. Having a precise appraisal of equipment value makes loss recovery a much smoother and complete process in the case of extensive damages to your property.
An agent in Orlando or the surrounding communities can fill you in on other regionally specific coverage you might need. They also help by assessing your site and your tenants to help you come up with a plan that mitigates your biggest risks.