Recent flooding and storms throughout the Northeast are posing severe threats to commercial property owners and managers. Hartford businesses are no stranger to the constant threat of winter storm induced flooding and the summer wildfires that can ensue as the weather warms. Natural events pose many threats to commercial property holdings ranging from real-estate to resources and other commodities.
The effects of inclement weather conditions can induce water damage, combustion, debris damage and geologic instability. The recent Midwestern tornadoes and California wildfires are strong reminder that no region is immune to devastation. Commercial property holders are especially vulnerable to facing costly financial ramifications caused by natural disasters. Having a comprehensive Hartford property insurance plan can help reduce and prevent financial losses.
Commercial property is not limited to the buildings and structure your company owns. The term broadly extends further encompassing many of your business assets including cargo, land and resource holdings, and even transportation investments. Many tangible items damaged or destroyed by unforeseen events are coverage under general property and casualty liability insurance, however many specialty coverage options are available for businesses to ensure that all of their resources are adequately secured in different conditions and circumstances. Hartford flood insurance for example is a coverage addition to any Hartford property insurance policy.
Another important Hartford commercial property insurance coverage to consider is Hartford inland marine insurance which extends financial protection to company property that is not on site at your place of business. While Hartford commercial property insurance safe guards all your on-site assets, in-transit cargo, resources and buildings under construction are not generally covered. Therein lays the importance of inland marine insurance; these off-site and in-transit business assets can be secured against damage and loss under a wide variety of circumstance, including severe weather conditions.
Hartford property owners face countless risk exposures in daily operation, let alone in the aftermath of a devastating natural event. At Sinclair Risk and Financial Management we specialize in assessing our clients’ exposures to all conceivable hazards. Our Hartford Property Insurance specialists will address any specific gaps in your coverage and customize your coverage to include exposures such as floods and wind as part of a Hartford excess property coverage plan.