As companies grow over time, business owners might realize it's time for upgrades and expansions as their customer base increases and their commercial property ages. Improvements and additions can add a lot to a building's aesthetic, but these changes may also impact Commercial Insurance as well.
In today's blog post, we'll look at three commercial property upgrades that can impact Business Insurance, and how Aegis Insurance & Financial Services can help ensure companies have the coverage they need.
One of the most important upgrades a company can make to its exterior is new and improved business signage. Whether it's brighter channel letters on the front of a building, a new company logo on the property, or an eye-catching LCD display with a changing rotation of images and messages, upgraded signs can attract new customers and enhance the image of the property.
When a business upgrades their commercial signage, whether on the building or the edge of the property, it's important to make sure the sign values are included on the Commercial Property insurance policy in the event they're damaged in a storm or fire.
Covered Patios or Outdoor Seating
As customers increase, restaurants or retailers may decide to expand their seating by building out larger patios or outdoor seating options so customers have more space to sit and enjoy the property. An increase in seating or an expansion in property means Commercial Property needs to be updated to include these new areas.
Without updating insurance policies, this could result in a gap in coverage if new patios or outside seats are damaged due to a covered event. An update to insurance coverage means the full value of business property and assets are covered, which means less out of pocket costs to businesses if there are damages or losses.
Parking Lot Expansions
An increase in customers and traffic can mean it's time to expand parking lots on commercial properties, and these upgrades also need to be included in Commercial Property coverage. With a larger parking lot comes added security and property damage risks, so Commercial Property insurance should be updated to reflect these changes.
Upgrades and improvements to a commercial property should always be done in conjunction with Business Insurance updates. Aegis Insurance & Financial Services can help businesses have the insurance protection they need to weather any kind of storm so they can focus fully on business growth.
For more information about our full range of Commercial Insurance policies, contact Aegis at 713-850-7622 or fill out our online form to request a free quote!