If you own a St. Augustine business, you will likely be required to have property insurance, though you may not know the reason for such things. There are many reasons to consider property insurance, and some are common sense while others may seem unreasonable.
Structures
The structure of your business building could become damaged if there were a big storm or another problem. Of course, weather-related damage is one of the biggest reasons for property insurance so that you can make a claim whenever there has been damaged to get the property back to before-storm abilities.
Most business owners in St. Augustine would have many problems if their business had to shut down until money could be earned for repairs. In most cases, the owner wouldn’t be able to fix the problems if they couldn’t stay in business. Unless the business has been torn down completely because of weather or other natural causes, you will likely get to use the business while the areas in question are fixed.
Furniture
Most people don’t consider insuring their furniture, but if you were to have the roof collapse during a storm, the rain would likely ruin the furniture, which could cost you a lot of money to replace. While you may think that furniture isn’t such a big deal, it would be an added cost. This can include sofas or comfortable chairs for the waiting room, desks, office chairs and tables.
Equipment
Chances are, the equipment you use to run your St. Augustine business is expensive. Of course, the expense varies with the business, but you will likely have a refrigerator and microwave for the break room, a copier, fax machine, printers, computers and everything else that you need to run your business. Property insurance can cover the equipment you use every day, so take a moment to think of how much equipment you actually have in your building and the estimated cost that it would take to replace everything. It definitely makes property insurance seem important.
Inventory
While most businesses do not keep inventory at the same place as their office building, your inventory is part of the business and if it gets ruined, you could be out a lot of money. This means you wouldn’t have anything to sell to customers, and new items would be required before business could return to normal. However, having the money to remake those items could be difficult to acquire without property insurance.
