Well, look like the brutal winter has finally come to an end (hopefully you and your business made it through unscathed!). While the warm weather that comes with spring is something we are all excited for, spring also brings the arrival of tornado season.
Tornadoes can be dangerous and cause enormous damage to your property. Now is good time to make sure that you have the insurance that will ensure that your business survives if, God forbid, your business comes to blows (pun intended) with a tornado.
Will you have the insurance if the wind blows your roof off your building? What if lightning strikes your building and starts a fire? If you are not protected, you could lose everything and financially put a stop to your business.
To prevent that from happening, make sure your have the right insurance. Start with the value of your buildings (if you own the buildings), your business personal property and any property of others that may be in your care, custody or control. The value of your property is your choice. You must decide if you want to insure the value of your property at a replacement cost value or actual cash value.
The definition of tornado is, “violently rotating column of air that is in contact with both the surface of the earth and a cumulonimbus cloud”. The policy will not say that “tornadoes” are covered on a policy, however, it will say fire, lightning, theft and most weather related damages are covered.
Make certain there isn’t any exclusion built into the policy that would exclude wind damage. Most policies exclude flood insurance so if your property is located in a flood zone, contact your agent.
Be prepared. After the storm settles and the rainbow is shining is too late to find out you were not properly insured.