Month: January 2012

Article by Bett Steinburg

Business owners that need to insure their building will want to make sure that they get the best building insurance quote possible. There are a few tips and tricks that can help a business owner get a good quote for insurance on their building.

Firstly, it is important to acknowledge that many people do not purchase insurance. This is true for both commercial and personal insurance. This is because they think that accidents and natural disasters will not happen to them and if they do, they will be able to cover the damage themselves. This is not true, as nobody knows when he or she will be a victim of a burglary, fire, natural disaster or a number of other circumstances that could harm the belongings of that person. In addition, many people under estimate how much money it would take to replace their belongings and cover their liability if something does happen. This is why insurance is an absolute necessity. This is especially true for businesses. If the building that they operate from is damaged, they will not be able to generate any revenue.

While in the past, many insurance companies would allow customers to decide the sum that they wanted to insure their building for this is no longer the case. Many insurance companies now insure building for replacement value regardless of how much that may cost. This means that if something were to happen to the building the insurance company would replace it with the same materials. Some buildings do not qualify for this type of insurance as they are higher risk and more expensive to fix when something goes wrong. In cases like these, the insurance company will insure it for however much it is valued at. When the customer is getting a building insurance quote the insurer will ask customers, what the building was worth last time it was valued.

In order to ensure that they get an accurate quote, customers must know some specific details about the building. The person giving the quote will want to know what year the building was built in, what it is constructed of and if there is anything out of the ordinary about the building.

If the building has a security system customers make sure that the insurer knows that as this may help reduce the premium. It is also important that the customer ask what discounts the company offers so that they can make the most of them.

Those that have this information will be able to get an accurate building insurance quote. Consumers should take the time to get quotes from several different companies so that they can compare the cost. Some companies offer exactly the same policy at different rates from one another.

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