The insurance policy is a contract and as such, is governed by its conditions, provisions, and exclusions. Most insurance buyers do not read their contract before a claim, and as a result, receive far less compensation than they expected. The purpose of the following outline is to identify the most common problem areas, as well as provide solutions for you to consider. As always, you should discuss your particular needs with your insurance professional.

COMMERCIAL MULTI-PERIL INSURANCE POLICY
Contains a menu of coverages, exclusions, and limit selections that allow the business owner to tailor the policy to their particular needs. Make sure the property policy includes the following:

PROPERTY COVERAGES

BUILDING: Consider replacement cost on the same or different site with inflation guard or margin clause; including ordinance and......

CONTENTS: Include leasehold interest if you are renting your facilities. This protects......

INVENTORY: Replacement cost of inventory should be the actual cost to replace......

BUSINESS INCOME

The standard contract wording is: We will pay for the actual business income loss you incur due to the actual impairment of your operations and extra expenses you......

The above is a small sampling. Also included, are clear, detailed explanations for:

• EXTRA EXPENSES 
• EXCLUSIONS 
• DEDUCTIBLES 

Make certain you thoroughly understand your insurance policy. Become a BISIMPLIFIED.COM member today!