Will Commercial Insurance Pay For Building Upgrades?

Commercial insurance is essential for protecting your investments and assets. Many policies can help replace inventory in the event of a covered peril, such as a fire. Business insurance can also provide coverage for damages caused by vandalism. However, there are certain things that commercial insurance in Blue Ridge, GA, typically does not cover.

What Does Standard Coverage Include?

Commercial insurance comes in various forms. Property coverage protects the building and business property, including inventory and structural damage. However, it commonly excludes vehicles, as auto insurance policies are designed to cover commercial vehicles.

Liability coverage protects businesses in the event of a liability lawsuit, such as an injury claim. However, it typically excludes employee injuries. Business owners need workers’ compensation insurance to provide coverage for employees who are injured on the job.

Does Insurance Cover Business Upgrades?

It might seem logical for insurance policies to cover certain upgrades, such as installing a new metal roof, since these improvements could reduce the likelihood of future damage. For example, metal roofing is generally more durable than asphalt roofing. However, insurance policies typically do not cover upgrades, even if they make the building more structurally sound or less prone to damage over time.

In some cases, business owners may want to upgrade their facilities after a natural disaster has caused significant damage. While insurance may cover the cost of repairs, it typically does not cover the cost of aesthetic or structural upgrades. To explore whether upgrades can be incorporated during repairs, speak with an agent at The Insurance Mart.

At The Insurance Mart, we understand the importance of maintaining a clean and functional facility for your business. Our knowledgeable representatives can help you understand your policy and what is covered. Contact us today to learn more about our commercial insurance options. We proudly serve the Blue Ridge, GA, area.