What To Do About Flood Damage as a Tenant

5/9/2020 (Permalink)

If you have not purchased renters insurance for your business now is the time

You may have heard about and seen some of the effects of building flooding. You certainly hope to never live through them. Still, being prepared can give you some peace of mind in the wake of an emergency. If you rent office space, consider purchasing renters insurance. This coverage could spare you a lot of stress, grief, and money. Remember, the building owner's property insurance won't cover your items.

What Property Insurance Handles

A commercial property insurance plan in Evansville, MN, is essential for building owners who want to protect their assets. Storm damage or flooding can be significant and cause major problems in an office. Property insurance coverage is valid for the following types of claims:

• Damage to the roof
  
• Damage to building materials
  
• Damage to the foundation
  
• Damage to walkways, stairs and balconies
  
  

What Property Insurance Won't Cover for Tenants
You've got a lot of important items and belongings in your office. Many of these materials are critical to your business, while others are intrinsically valuable to you. The landlord's property coverage won't do any good if your office furniture and electronic equipment are damaged in a flood, fire, or storm. This insurance will also not help you out if a disaster destroys books, documents, collections, or clothing.

Your No. 1 Option
All hope is not lost in the event of an emergency. Thanks to renters insurance, you can get the compensation you need to make up for these lost items. The coverage can also pay for professional restoration teams to clean and repair these belongings. Make sure you file your claim as quickly after the incident as possible. Take photos of the damage and record all the materials that you lost in the disaster.
If you have not purchased renters insurance for your business now is the time. This plan can give you peace of mind during a trying time.