Commercial Realty Insurance Woolwich

Oracle RMS’s insurance brokers will work to make sure you understand all the fine print and specialized terminology. With Oracle RMS, you can rest assured that you are in capable hands.

Oracle RMS FAQ:

What are the factors that determine commercial insurance prices?

Several factors are considered when determining your commercial insurance rates. Your insurance advisor will likely consider the following factors:

• The replacement cost of your property and contents.
• The build’s plumbing and electrical work.
• The building’s location.
• The age of your commercial property.

How does commercial realty insurance work in Woolwich?

Commercial property insurance protects the physical structure of your building. It is designed to protect your company’s finances if you have to shut down temporarily or your building is damaged.

It covers the cost of repairs

In the event of an insured loss, your commercial realty insurance may help with any repair expenses, enabling you to go back to work as soon as possible.

It also covers the cost of replacements

If you experience an insurable loss, your business realty insurance policy can also cover either restoring your possessions to their initial state or buying new ones of the same kind and quality (whichever is the lower cost).

It prepares you for the unexpected

To aid you in managing unforeseen costs, your commercial realty insurance may include coverage for accidents such as fire, winter storm damage, hail, and specific types of water damage.

How many types of commercial realty insurance are there, and which is the one for my business?

All businesses should strongly consider the following four commercial insurance products:

• Commercial General Liability
• Commercial Property
• Business Interruption
• Commercial Auto

While having all four is the best option, every business should at least have commercial general liability coverage to cover them against third-party claims of injury or property damage. Also, if you own a commercial vehicle, you must have commercial auto insurance.

Who is responsible for insuring a commercial realty property?

Unless you own the physical building, your lease agreement generally states that the landlord is accountable for maintaining the commercial building’s property insurance. You, as the tenant, are responsible for insuring your own belongings/assets.