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Inventory / Goods Insurance

Inventory / Goods Insurance

In this day and age it is impossible to start a business if your investments are not properly insured. In commerce insurance is one factor you cannot do without.

The nature of commerce also means that insurance companies require a more thorough process for their clients before they can apply for their services. That is why it is important when applying for a commercial insurance policy to always bring a copy of your Chamber of Commerce registration, and a valid identification of the persons mentioned under the registry.

Your inventory and goods are a critical part in running your business. That is why it is important to have security should anything happen. With the inventory/goods insurance it is possible to get coverage’s ranging from fire only to more extensive coverage’s. The client has the option to choose what coverage is right for the business.

All insurance companies works according to the rules and requirements set for commercial properties by the Fire Department. Certain insurance companies require the presence of an alarm system or theft preventive measures, for example, steel bars around windows. There should also be fire extinguishers fixed in strategic locations, which should be routinely maintained to stay in working order.

Once a year the insurance company will send a representative over to check up on the condition of the building housing the inventory and goods, following this they might give certain recommendations in order to avoid any dispute should any damage happen to the building. It is of vital importance to always notify your broker of changes made should you expand your company and with this its inventory and goods in order for the right sum to be insured. It also important to mention the kind of goods your business deals with.

Please note, every insurance company has their own policy, which may vary. And therefore the information we provide is liable to change depending on your current insurance policy.

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