A recent article in the Wall Street Journal cautioned against the advancing strides being taken in the home security market. Many homeowners now have the capability of unlocking the front door or disabling their home alarm with a Smartphone app.
The new year is a perfect time to review your commercial insurance policy to make sure you have the coverages you need at different times throughout the year. For example, you may have more inventory during the holidays, but if you don’t have a high enough limit on your Business Personal Property coverage, you may not have enough protection for these items if there’s a total loss.
Restaurants are often a great fit for West Bend’s SMARTbusiness™ program. If you own a restaurant or are an insurance agent inspecting a risk for a current customer or future prospect, it’s important to be familiar with the UL300 compliance systems (UL300, Fire Testing of Fire Extinguishing Systems for Protection of Restaurant Cooking Areas). Why? Because these systems were designed to protect you!
Do you know what your business income time period deductible is?
Business income insurance covers the income that would have been earned if there hadn’t been an interruption in the business. For this coverage to kick in, there must be damage to your business property due to a covered cause of loss at your business premises, for instance a fire. Business income coverage typically begins after a standard waiting period, usually 72 hours.