If you own an office building and you're looking to cover it with insurance, you might be a bit concerned about just how much it's going to cost you. While a good commercial insurance policy is absolutely invaluable, you also don't want to have a premium which is so high that you can barely afford to keep it current. While you might not be able to change things such as the location of the building or the purpose you will use it for, there are other factors which you do have control over that can make a substantial difference in the amount of your coverage. Use this information to learn more about two tips that can help you get a good deal the next time you need commercial building insurance protection.
Beef Up Your Security System
One of the best things you can do when you're looking to get a budget-friendly commercial insurance policy is make sure that your security system is as comprehensive as possible. Although this might mean that you have to make an initial investment in your system, the payoff could be well worth it.
Understand that insurers generate your premium based upon the amount of risk they presume that you present to them. For example, if your building is situated in a zip code that is known for break-ins, your premium will typically reflect this because the insurer is trying to cover for the fact that they might need to eventually pay out on a burglary claim. When you have a good security system that includes things such as remote viewing abilities, automatic doors with strong locks and a good alarm system, your insurer will usually offer a discount because these items help to decrease the risk that a break-in will occur.
Invest In A Fire Protection System
A major risk to any building is the chance that a fire will happen. A single spark could become so large that it absolutely decimates a building, leaving the insurance company on the hook to pay for the damages.
That's why you should get the best fire protection system that you possibly can. Include automatic sprinklers, long fire hoses, extinguishers in each room, and top-of-the-line smoke detectors. Once you let the insurance company know that you have these things, you'd be amazed at the difference in your premium!
Getting commercial property coverage for your office building doesn't have to break the bank. When you're ready to get your policy remember these tips so you can get protected at a price that works for you.
For more information, talk to a company like Northeast Insurance Agency.