Insuring Your Business’s Outdoor Spaces

How you can insure your business outdoor areas.Insuring Your Business’s Outdoor Spaces

If you are a business owner, you know that having the right commercial insurance is one of the best ways to protect your company from its various risks. When most people think about business insurance, they think about it in terms of protecting things inside their business. However, if your business has outdoor spaces, then it’s important that you protect these areas as well. Here’s what you need to know about insuring your business’s outdoor areas.

What risks do I face?

Your business’s outdoor areas face the same risks at the rest of your business. For instance, someone could fall, leading to liability issues; a criminal could steal outdoor property or vandalize outdoor spaces; and a storm could cause damage to outdoor areas. With these various risks in mind, you can understand how important it is for you to get the right insurance for your business’s external spaces.

How can I get coverage?

One of the best ways to get coverage is with a business owners policy (BOP). This type of commercial policy includes several coverages that will protect your business’s physical building and the property that you keep inside it. Additionally, this coverage will also extend to cover your business’s outdoor spaces and the property that you keep in these areas. For instance, a BOP will generally provide coverage for damaged or stolen property within 100 feet of your business’s building.

BOPs also include commercial liability coverage. This type of coverage will protect against the liability issues that may arise inside your company’s building and in its outdoor spaces. For instance, if a customer trips and injures him or herself in your business’s parking lot, a BOP will likely cover their medical expenses and, if necessary, the costs associated with your legal defense.

In addition to these standard protections, you also have the opportunity to add additional coverages to your BOP as well. To learn more about your coverage options, you should speak to your company’s insurance provider for more information.

This is what you need to know about getting insurance for your business’s outdoor spaces.  Interested in speaking to an experienced agent who has experience working with businesses?  Then don’t hesitate to contact us at ISU-Wissink Insurance in Culver City, California.  Our dedicated team is ready to assist you with all your business insurance needs.