Friday, August 23, 2019

Is Your Commercial Property Protected Against Natural Disasters?

California has been reeling under the effects of global warming. Over the last few years, we have seen an increase in natural disasters like floods, earthquakes and forest fires. It has cost the state billions of dollars and people have lost their lives, homes, and livelihood. It has taken a toll on small businesses as well. It isn’t easy to recover from the after-effects of a natural disaster without insurance.

Most people check a variety of boxes when it comes to personal insurance. They ensure their homes, cars, jewelry, and even their antiques. But, when it comes to their small business, they favor commercial business insurance. This may offer protection against general liability claims but does it cover physical losses that occur due to the effects of a natural disaster? No, it doesn’t.

Why Does a Small Business Need Commercial Property Insurance?

Most small business owners prefer taking minimal insurance for their property, especially if it is leased and if their lease contract specifically demands it. But, consider this! If you don’t get adequate cover for your commercial property, you may get next to nothing if disaster strikes. The money won’t be enough to help you rebuild your business.

After Effects of a Natural Disaster on a Small Business

  You will have no space to conduct your business

•  All the orders that you have taken will remain unfulfilled

•  If you have a warehouse, you could lose millions if the goods get damaged

• You could lose all the data related to your business including client communications, contracts, orders, etc. leading to irreparable loss.

How Do You Recoup?

It will be difficult to get back on your feet after a blow like this without financial help. You will need to renovate your space and refurnish it. You may have to refund clients if you can’t deliver the goods that they ordered. You may not be able to get your office space and your business functional for months. If you had been covered for such an eventuality, the insurance could have eased the financial burden to a great extent.

What Should You Look for in Commercial Property Insurance?

When you go through the commercial property insurance policy, you need to ask the right questions! Does it cover all of your property? What kind of cover does it provide if your small business is affected by a natural disaster? Does the commercial property insurance cover damages done to interiors and electronic equipment? Would it cover loss of goods?

You need to find a good insurance company or an insurance agent who is knowledgeable and will answer your questions patiently. They should be able to explain what the policy offers and make sure that whatever you need is covered. Visit or call 650-328-1000 to speak to one of our experienced insurance agents to find out what kind of cover would work best for you.

Why Do You Need Supplemental Insurance?

When you are young unless you have some kind of chronic illness or need specialized medical treatment or expensive medication on a regular basis, a basic medical cover would suffice. But as you grow older, it is important that you take a long, hard look at your health insurance and see what you are covered for.

Healthcare is very expensive. If you fall ill, you need money for consultation fees, specialist fees, medications, tests, hospitalization fees, ambulance fees and so on. Indeed, the list is endless. Finding out that your medical insurance isn’t enough for your treatment can be traumatic. This is where supplemental insurance can help.

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What Is Supplemental Insurance?

It is additional insurance that you can take, over and above your medical cover. It can help take care of a lot of things that your regular medical cover may not. Supplemental insurance can take care of deductibles (amount of money that you would pay at the hospital before the coverage kicks in) and copayments (amount which is in addition to the sum that your health insurance has given you assured coverage for) when you fall sick.

Common Types of Supplemental Insurance

Critical illness insurance is usually specific to a disease. Some illnesses that are chronic or long-lasting may need long term care. Your medical insurance may run out long before you get better. Supplemental insurance can ease the financial burden of a serious illness.

Accidental death policies include Accidental Death and Dismemberment Insurance (AD&D) and accident health insurance. They are usually combined and sold together. It will not only include medical insurance in case of accidents but can also include other related problems that may arise through accidents like wage loss, expenses that arise due to loss of mobility, etc. In case of accidental death, the benefit of the accidental death insurance will go to your loved ones and can be substantial.

Supplemental insurance also includes dental insurance for adults as well as vision insurance plans. Regular health policies may not cover these two expensive health issues and it would be a wise idea to get these policies.

Long term care insurance is supplemental insurance that covers hospitalization and home care or assisted living care for people who have been diagnosed with long term illnesses. There are also supplemental insurance plans that offer cashback benefit if unclaimed. It will be given to you over a period of time or as a whole sum.

There are many kinds of supplemental insurances available. Medigap is common supplemental insurance. This is taken by people who are enrolled in Original Medicare. It covers many things that your original medicare won't.

Visit to take a look at our supplemental insurance policies or call 650-328-1000 to talk to one of our insurance agents and they will work out the best one for you.