fire property business insurance

Fire and Property Insurance Coverage

When you don’t have the right Fire and Property Insurance coverage, a simple fire can put you out of business. Building damage can take months to repair. Water used to extinguish flames may ruin your furnishings, electronic systems, goods for sale, and the equipment you need to run your operations. It’s crucial to consult a Connecticut insurance professional with the expertise to set up an insurance program that covers all of your business exposures. Your policy should also have limits high enough to pay for all necessary repairs and restoration.

What coverages do you need?  

A basic Fire and Property Insurance policy provides basic coverage. When necessary, we can tailor your policy with endorsements that cover regional, industrial, or professional exposures unique to your Connecticut business.

  • Business Interruption – pays the cost of lost profits due to an insured loss
  • Equipment Breakdown – pays mechanical breakdown-related damages for production, heating, and AC equipment
  • Data Processing – covers virus and computer-related losses
  • Cargo Insurance – covers goods in transit
  • Contractors Equipment – scheduled or blanket “floater” coverage for equipment away from your premises
  • Crime Coverage – pays financial losses due to criminal acts
  • Property of Others – covers non-owned property on your premises
  • Replacement Cost – eliminates depreciation on claims
  • Builder’s Risk – covers your financial interest in property under construction

How much coverage do you need?

Figuring out the proper coverage limits can be a complicated process, but it’s important to get it right. When your limits don’t comply with you policy’s coinsurance requirement, it can reduce the payment amount of a covered claim. Your insurance professional can help you determine how much coverage your insurance company requires.

Why so many policy exclusions?

Coverage restrictions and exclusions help keep Fire and Property Insurance premiums affordable. If your policy covered every possible peril, you couldn’t afford the premiums. Fortunately, Fire and Property Insurance policies cover only those incidents most likely to happen. Rare or unlikely occurrences simply are not covered. While perils, such as Flood, Earthquake, War, Mold, and others, are specifically excluded.

Reliable Insurance Professionals

Whether you run a small or medium business, a large enterprise or a major commercial real estate entity, purchasing property insurance can be a complicated process. It’s important to have seasoned insurance professionals to guide your decisions.

At Burgess Insurance, we focus solely on clients in Central Connecticut and the Greater Hartford area. We are local, so we are available when you need us, and we are dedicated to counseling you through every step.

  • We discuss your business needs, analyze your exposures, and review available premium discounts.
  • We help you select the right insurance at the right limits for your business.
  • We explain your coverage to eliminate any surprises when you file a claim.
  • We review your property coverage program annually to make certain your coverage keeps pace with rising costs.
Scott Prestileo

“I have known Vince for about 7 years. I recently started my own business. I needed to get four policies in place in a short period of time. Vince got me going quickly and that enabled me to land my first account! Vince and his staff are true professionals. If I email them with a question they always get back to the same day. I would recommend them to anyone!”

Mark GustafsonLMH Electric, Bristol CT