Commercial Property Insurance for Consultants
As a consultant, you likely depend on your computers and media equipment to conduct business. Whether you're hosting virtual meetings or simply researching, organizing, and strategizing, your computers and equipment help you serve your clients each day. So if a fire, tornado, or burglary compromises your electronic devices, damages your office space, and destroys office supplies, what would you do? Would your consulting firm have the means to make repairs, replace your equipment, and quickly get back to helping your clients grow their businesses?
With adequate Property Insurance, you can rest assured your company will have the funds to survive such an unexpected and expensive hit caused by natural disasters, criminal activity, and accidents. This policy protects your business assets and business space, regardless of whether you own or rent the office space. And since your consultant business regularly takes you to your clients' business sites, this policy can also cover your business for damage you or your employees may accidentally cause while away from your office.
When you're a consulting business in need of new equipment and functional space, every minute in limbo means time away from your clients and missed opportunities to take on new work. Learn how Property Insurance can quickly get your business back on its feet after a costly incident or disaster.
How Property Insurance Works for You
Independent Consultants: How Property Insurance Works for You
Your consulting business's Property Insurance policy can protect your building space, computers, media equipment, and supplies from the damage or loss caused by natural disasters and theft. When shopping for a policy that adequately protects your business essentials, you may find some offering coverage at the replacement value of your property and others that cover property at their current value. Typically, your best defense against unexpected incidents is to insure your property at its full replacement value, even though the premium will be slightly more expensive. In the event of a covered claim, such as a fire or break in, you will have the funds to quickly replace your property with new gear.
You Property Insurance policy can also protect others' property while it is in the care, control, or custody of your business. For example, if you are at a client's office and you or one of your employees accidentally drops a client's laptop that you'd been working with, your coverage can pay to replace it as it if were your own.
Since independent consultants are typically considered low-risk, your business may be eligible for a Business Owner's Policy or BOP. This policy bundles Property Insurance and General Liability Insurance together, giving your business a full scope of financial security against property damage or third-party liability claims. Talk to an insureon agent to learn more about this affordable coverage option and whether a BOP is appropriate for your business protection needs.
Key Details About Your Property Insurance
A commercial Property Insurance policy safeguards your business assets even if they are at your client's site at the time of damage or loss. Should a covered incident occur and your business suffers property damage, your policy funds the replacement of damaged assets so you can get back to taking care of your clients quickly. As you look for an insurance plan that fits the needs of your business, keep in mind the following coverages you may want to include in your Property Insurance policy.
Building Coverage for Consulting Businesses
Whether you rent or own your office space, your policy can include coverage for damage to the building and its contents, including furniture, fixtures, and supplies. For business owners who rent their space, your lease may require you carry some kind of Property Insurance, and this protection can meet those stipulations. In the event that a fire or tornado destroys your office building, your coverage will kick in and provide the funds needed to make repairs to the building and its contents at the replacement value. That way, you can quickly get your office back in working condition.
Computers and Media Coverage for Consultants
Because your consulting firm relies on its media equipment to serve clients, coverage for computers and media is a valuable asset to your business insurance plan. This coverage may provide the funds to replace computers, computer equipment, tablets, or smartphones. It can also provide for the costs to research, replace, or repair lost or damaged data and software in the event of covered claim, such as a power failure or computer virus.
Business Interruption Coverage for Consulting Professionals
When disaster strikes and your business must be put on hold to make repairs or replace equipment, business interruption coverage can provide the funds you need to cover utilities, rent, payroll expenses, or foregone income. As the result of a covered property loss, you may receive reimbursement of your lost earnings for up to 12 months. Ask your insureon agent to learn whether this coverage is an appropriate addition to your Property Insurance policy.
Customize Your Business Protection Plan
Consultants: Customize Your Business Protection Plan
Our insureon agents know that every day without the equipment you need to serve your clients means lost earnings and missed opportunities to grow. We work with A-rated insurance providers so that you receive speedy payouts in the event of a covered property claim. When you're ready to safeguard the equipment, supplies, and office space that make your consulting business run, complete our all-online application. In minutes, you can receive competitive quotes for comparison.