400 Middletown Blvd.
Suite 106
Langhorne, PA 19047 215-750-1035
Three simple steps to protect your business
Photograph each room in your office, being sure to capture all property and valuables. Store pictures off premises to assist with the preparation of listing lost or damaged property in the event of a loss.
Make a list of all contents in your place of business including an estimated replacement cost of each item. The replacement cost can usually be obtained from office or business supply catalogues or websites. Keep a separate list for computers and software. Prepare a separate list of any fine arts objects requiring special insurance treatment, or any specialized items such as forklifts, sales samples or trade show displays. These lists will then be used to determine the necessary values insured under your policies. Most policies require that you insure your contents for a minimum of 80% of the replacement cost. This may even increase to 90 or 100%. In the event of a loss, penalties may be incurred, reducing the amount of actual loss payment if the co-insurance limits required under the policy are not met.
If you or your business is the owner of the building(s) you have insured, it is important to have your property re-appraised every few years to be certain that the insured value is correct and that it complies with the co-insurance limits of the policy. It is important to have an insurance appraisal, not a marketplace appraisal. If you have questions on whom to contact for an insurance appraisal, please contact us.
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