For Maryland companies, property insurance is a necessary component of business that may go beyond simply insuring your building. That's why properly assessing your Maryland property insurance needs is vital to ensuring the continuity of your business during and after catastrophic events.
Maryland commercial property insurance protects against building damages and personal property losses as well as expenses or losses that stem from those events. At Doerfer Insurance, we can offer your business a wide variety of coverages.
4 Examples Of Property Insurance Needs
Building and Personal Property. In addition to buildings and structures, this coverage includes complete additions to the covered buildings, outdoor fixtures, permanent fixtures, machinery and equipment.
Equipment in Transit. If your business owns goods that may be shipped over the road, by air or by sea, you need transit coverage since most commercial property policies only cover property loss on or near the premises. Common carriers often have limited coverage, but when you control the insurance on your goods you can be assured a quicker loss settlement for the appropriate amount.
Business interruption and extra expense. This coverage pays the expenses that continue and the profits that would have been earned during the period of interruption resulting from direct damages from an insured peril.
Machinery and Equipment. Its important to know that most commercial property policies exclude coverage for breakdown of machinery and equipment. Therefore, a separate policy is needed for items such as boilers, pressure vessels, computerized equipment, refrigeration, etc.