Commercial building insurance can offer numerous types of financial protection. Policyholders have protection from liability if visitors slip and fall at a commercial property. They can file claims if there is a fire started by daily business operations or if a storm damages their premises and affects their ability to operate the company.
Sometimes, businesses sustain significant structural damage due to the conduct of the thieves and other criminals. For example, those attempting to rob a small retail establishment might drive their vehicles through the front of the store to access what is inside, such as jewelry or other items in locked display cases.
Can commercial insurance help to pay for property damage caused by criminal activity?
Crime can cause massive damage
The risk of criminal activity is a serious concern for all types of businesses. If insurance policies excluded coverage in cases where criminal activity is the underlying cause of policyholder losses many people would not have protection in situations where they are not the ones at fault.
Commercial insurance policies that cover facility damage typically cover damage caused by criminal activity. Total losses related to arson, damage caused by nearby gunfire and vehicle collisions with buildings are among the types of significant criminal issues that can cause major damage to commercial facilities. Regardless of whether the state prosecutes or the police identify the criminal, an insurance claim could be possible.
Properly documenting damage, reporting the crime at issue and filing an insurance claim can be difficult for business owners. The support of a commercial insurance attorney can make it much easier policyholders obtain coverage for repairs when criminal activity leaves a commercial property in an unsafe condition.