Commercial property insurance covers businesses for losses due to certain covered events, such as fire, theft, vandalism, or natural disaster. This coverage helps business owners protect their valuable assets, such as an owned or leased building, tools, equipment, machinery, or inventory. Commercial property insurance rates typically average $500 to $1,000 per year.
Commercial Property Insurance Rates
The cost of business property insurance varies depending on the value of the property to be insured, the location of the business, and the coverage limits and deductible you choose. There are several other factors affecting the cost of commercial property insurance, but most small businesses will pay $500 to $1,000 per year in premium.
Some insurance providers will allow you to include commercial property insurance in a business owners policy (BOP), which is a bundled package of multiple insurance types. The cost of the package as a whole is often less than the underlying policies if purchased separately.
The most important factors that affect the cost of business property insurance include:
- Geography: Everything from the land value of your business location to local crime rates can impact the annual cost of your premium.
- Safety and Security: This expands on the geography and location aspect. Is your commercial property located in a high crime area? Are there hazardous materials stored in your building or nearby?
- Size of Business Premises: A large commercial building will generally cost more to cover than a single unit office space.
- Age of Building: Old buildings can be more susceptible to certain types of damage, so they may cost more to insure. For example, a fire caused by old electrical wiring could translate into costly repairs if the building needs to be rebuilt to code.
- Type of Equipment: Heavy industrial equipment will cost more to insure than an at-home business’ sewing machine.
- Age of Equipment: You may pay higher premiums if your equipment is hard to repair because of scarce parts or if it’s more likely to break down because of heavy use.
Insurance companies will charge more for greater risk exposures that require higher coverage limits. It’s important to remain aware of the risk exposures of your business and the assets that you need covered.
Use an Agent or Broker Who Understands Your Business
Commercial property insurance is a type of small business insurance and is not specific to any particular industry. Keep in mind that not every insurance company will have intimate knowledge of your business or the risk exposures that need protection. When shopping for a commercial property insurance policy, try to find an agent or broker who understands your business or industry type.
How Commercial Property Insurance Works
A commercial property insurance policy is non-industry specific, which means that the coverage is mostly standard across all business types. However, commercial property insurance is not a one-size-fits-all product. Policies will differ in a few key areas, such as the coverage limits, how assets are valued, and what’s covered and not covered in the policy.
What Commercial Property Insurance Covers
Your insurance policy will cover certain perils, which are causes of damage such as fire or theft. Coverages included in your policy are called inclusions, whereas perils not covered in your policy are called exclusions. It’s important to know what is covered in your policy and what is not covered.
Here are some of the primary items covered in a commercial property insurance policy due to loss from a covered peril:
- The building, owned or leased
- Business equipment loss
- Damage or loss due to wind, hail, fire or theft
- Accidental damage of property
- Business Interruption (lost business income)
- Electronic data
- Interruption of computer operations
- Valuable papers and records
- Forgery or alteration
- Accounts receivable
Of the covered items in a commercial property insurance policy, the most important items to cover are the building and the business’ assets contained within it. Business interruption, which covers a loss of income when your business is forced to suspend operations due to a covered event, is also necessary coverage in the property insurance policy.
For more information about Commercial Insurance visit Fit Small Business: Get Your Business Into Shape!
Water Damaged Carpet
Have you had a toilet overflow, a pipe burst, a washer malfunction or walk into a basement completely flooded by rainwater? Water can seep into almost every material and cause irreversible damage. When water saturates your carpet or walls, you will need to make decisions and make them quickly! Do not waste time contemplating how to clean up the water, each hour counts when water is involved. The longer water sits in porous material, like carpet or drywall, the sooner bacteria and microbial growth begins to grow.
One of the prime locations for microbial growth to spread is in a humid room with sopping wet carpet and walls. What do you do? Grab a shop vac and suck it up? Grab a slew of towels and cover the floor while dancing on top of them, hoping they will absorb all of the water? Grab all the fans you own and try to set them in just the right places, hoping that everything will dry out in time? Go ahead and try those techniques, but you will have a huge and more costly headache to deal with in a month.
If you choose to call a restoration company, be sure to call one who has the certifications to back up their work.
SERVPROs all over the country are locally owned franchises, and the majority of them are run by the actual owner. At SERVPRO of W. Littleton/Sheridan I know that our project managers, office staff, marketing team and even the owners are WRT IICRC certified. That means they know everything it takes to get water out of your home or business.
We are not magicians; we can not save all carpet and walls. We can certainly extract the water from the affected areas and remove all flooring & walls that are not salvageable, ultimately leaving you a clean, bacteria-free slate to work with. We even have a construction division that can help you get your home back to preloss condition. Do not waste time trying to clean up a disaster on your own or have the local neighborhood handyman clean it up, just call SERVPRO of W. Littleton/Sheridan and we will walk you through the process. You will be informed and updated of the restoration/mitigation process throughout the entire job so that nothing is questionable. We are your go-to! Give us a call even if you just have a question and we will be happy to help.
Commercial Fire Prevention
Causes of Commercial Fires
Commercial Fires Prevention
During the five-year period of 2007-2011, NFPA estimates that U.S. fire departments responded to an average of 3,340 fires in office properties per year which include general business offices, banks, veterinary clinics, research offices, engineering facilities, mailing firms and post offices. $112 million in property damages were reported.
When Are Commercial Fires Likely to Occur?
The chance of a commercial fire occurring during operating hours is extremely high. One-third of commercial office fires occur between business hours. The more populated a business is, the higher the chance of a fire occurring. Businesses occupying these commercial properties should inform their staff of fire dangers and how to prevent one.
- Turn off Coffee Makers, toaster ovens and kitchen appliances
- Have a designated staff member ensure kitchen appliances are turned off at the end of the day
- Always plug major appliances, like refrigerators, stoves, washers and dryers, directly into a wall outlet
- Never use an extension cord with a major appliance — it can easily overheat and start a fire.
- Always plug small appliances directly into a wall outlet.
- Unplug small appliances when you are not using them.
- Don’t allow space heaters in an office setting.
- Keep lamps, light fixtures and light bulbs away from anything that can burn.
- Use light bulbs that match the recommended wattage on the lamp or fixture.
- Check electrical cords on appliances often. Replace cracked, damaged and loose electrical cords. Do not try to repair them
- Do not overload wall outlets.
- Insert plugs fully into sockets.
- Never force a three prong cord into a two-slot outlet.
- Replace worn, old or damaged extension cords right away.
- Use extension cords for temporary purposes only.
- Avoid putting cords where they can be damaged or pinched, like under a carpet or rug.
- Do not overload power strips.
- Use power strips that have internal overload protection.
Information provided by FEMA and the National Fire Protection Association.
Arapahoe Community College & SERVPRO Offers a Workforce Training Program
Education is Key
SERVPRO partners with Arapahoe Community College to provide employees with a workforce training program. Workforce training prepares workers with the skills necessary for a specific type of job. The training program offers career development opportunities which will be accessible to all staff members and new hires. Learning opportunities will include mentorship, online training, group collaboration and trying something new without the fear of failure.
SERVPRO will provide course material which will be implemented in the training program. The training program provides its participants with new skills, enhanced resumes and long-term employment opportunities.
Course participants are trained on the technology they need to succeed in specific job roles. Qualified restoration, mitigation and construction professionals will teach participants through actual demonstration of standard industry methods using a structured course syllabus. Employees have the opportunity to take advantage of learning new skills which enhance their value in the workforce.
- Production Crew Expectations
- Carpet & Upholstery Cleaning
- Water Damage Mitigation
- Fire Damage Restoration
- Documentation/Job File
- Personal Protective Equipment
- Handling Material & Safe Lifting
We believe in providing our employees with the tools they need in order to succeed in the workforce and in life. We want to ensure our employees have the knowledge and skills needed to fulfill future roles.
New Mexico Freeze
We are ready for any size disaster!
New Mexico was hit with a winter storm on December 31st, 2018. Rio Rancho, Sante Fe and Albuquerque were severely affected by the freezing temperatures.
Since the last blizzard occurred in 2011 and residents were not prepared to handle the storm damages. Many homes with flat roofs faced excessive water leaks, whereas other homes were flooded by burst pipes from freezing temperatures.
The three SERVPROs in New Mexico were overwhelmed with the volume of jobs they were facing. SERVPRO corporate invited SERVPRO of Castle Rock/Parker to aide the local SERVPROs in providing service for those affected by the storm.
SERVPRO of Castle Rock/Parker wasted no time stocking their trucks with equipment, tools and supplies needed for the trip. After driving six hours straight, crews hastily unpacked and dispersed throughout the New Mexico Area.
Every time a SERVPRO hero goes into "storm mode" they consider the fact that they have the ability and knowledge to change the outcome of an unfortunate situation and to ultimately be a beacon of light for those affected by unexpected storms and hurricanes. SERVPRO professionals know that response time is everything, and they will work around the clock to get you back in your home and your life back to normal.
Our SERVPRO crews are still in the New Mexico Area and if your home was affected by the recent freeze please call us at 303-576-6868.
More About The Services We Provide
Whether you need emergency flood restoration or just need your upholstery cleaned, SERVPRO has over 1,700 Franchises ready to respond faster to any size disaster. SERVPRO has advanced equipment and highly trained technicians to make it “Like it never even happened.” We can help you with the following residential services:
- Water Damage Restoration
- Fire Damage Restoration
- Mold Remediation
- Storm Damage Restoration
- Cleaning Services
The Camp Fire in Paradise California
SERVPRO of Castle Rock/Parker Cares
The Camp fire of Northern California was one of the most deadly wildfires since the 1918 Cloquet fire. Local restoration companies were swamped with fire restoration projects, and only able to schedule restoration appointments weeks out. The Disaster Recovery Team at SERVPRO of Castle Rock/Parker was invited to Paradise California in order to provide fire damage repair & restoration services for home and business owners. The Disaster Recovery Team eagerly accepted the invitation, prepared their vehicles and set out on the road to Paradise.
The residents of Paradise left a lasting impression on one of our Disaster Recovery Team representatives; Sarah C. shared her account of the time she spent in Paradise.
“I arrived in Paradise on December 16th, and the devastation was insurmountable! It was foggy and rainy that day with the eerie feeling of a town stuck in time from the evacuation over a month prior. Buildings and neighborhoods were completely burnt to the ground with only a few structures still standing, practically untouched from the flames. These would be the residents and business owners I would spend the rest of my time getting to know during my time in Paradise. Some folks lost their home and neighborhood, but their business was spared, or just the opposite, losing their business or place of employment and finding their house to be the only one standing. Getting to know the kind hearted people of this community was reassuring because I know they will bring it back to the beautiful town it once was. I was truly inspired by the stories and brave acts of the residents in Paradise who helped neighbors, animals, and strangers through this difficult time. I wish all the best to them in a time of stress, reflection, and rebuilding.”
The SERVPRO Disaster Recovery Team send out their thoughts and prayers to the residents of Paradise. We know that the months to come may be difficult. Fire restoration, mitigation and rebuild is not always a quick and easy process, but we will do everything we can to make it “like it never even happened.”
“Our hearts go out to the residents of Paradise and those affected by the Campfire. Words cannot express what the residents of Paradise have experienced, and are still experiencing; we offer our deepest condolences.”
-SERVPRO of Castle Rock/Parker
We Provide Commercial Services
Commercial Restoration and Mitigation Services
If you are a property manager, business owner or building engineer then you understand the importance of maintaining and taking care of a commercial property. Our SERVPRO Commercial Division is solely dedicated to providing quality service for commercial clients and their properties. Our Commercial Division understands the needs and complexities of commercial buildings.We provide Emergency Ready Plans for large scale buildings, to get you back in business as quickly as possible.
We have the resources and capabilities to provide commercial restoration and mitigation services for any size structure. Whether your business or commercial property faces a fire, water or mold loss, we can handle it. We also provide board up and bio-hazard clean up services.
- We are an EPA & IICRC certified firm
- Any size loss will be handled confidently by an IICRC professional trained in water, fire, smoke, and commercial loss
- Golden Spike, Great Wolf Resorts, Ballard House, VA Medical Center, Aurora Firehouse 15, local municipalities, etc.
- We have equipment resources to manage all of your needs
- Including specialty drying equipment (injectidry, floor drying system, ETES, air scrubber, desiccant, etc.)
- 16 production vehicles, including 2 trailers
- Esporta Washing System
- Ultrasonic Cleaning System
- Document Drying
- Production teams with 7 years of national catastrophic storm travel
- Producing jobs in locations such as Illinois, Maryland, Arkansas, Idaho, Florida, Texas, Virginia, West Virginia, Iowa, Nebraska, Kansas, Missouri, California, Georgia, and Puerto Rico.
- Ownership that places the highest importance on Customer Satisfaction
- Our capabilities allow us to respond to your needs
SERVPRO’s Commercial Division is qualified to answer any of your restoration and mitigation questions. If you are concerned about your commercial property or if you have any questions about the services we provide, call our office and ask for our commercial division.
Prevent a Deep Fried Turkey Fire
Prevent a Turkey Fire!
Tips to help prevent deep fried turkey accidents
- Keep outdoor fryers off decks, out of garages and a safe distance away from trees and other structures.
- Make sure the turkey is thawed and dry before cooking. Ice or water that mixes into the hot oil can cause flare-ups.
- Watch the weather. Never operate a fryer outdoors in the rain or snow.
- Place the fryer on a level surface, and avoid moving it once it's in use.
- Leave 2 feet between the tank and the burner when using a propane-powered fryer.
- Follow the manufacturer's instructions to avoid overfilling. Oil can ignite when it makes contact with the burner.
- Choose a smaller turkey for frying. A bird that's 8 to 10 pounds is best; pass on turkeys over 12 pounds.
- Never leave fryers unattended.
- Purchase a fryer with temperature controls, and watch the oil temperature carefully. Cooking oil that is heated beyond its smoke point can catch fire. If you notice the oil is smoking, turn the fryer off.
- Turn off the burner before lowering the turkey into the oil. Once the turkey is submerged, turn the burner on.
- Wear goggles to shield your eyes, use oven mitts to protect your hands and arms and keep an "ABC" or grease-rated fire extinguisher close by. Do not to use water or a garden hose on a fire related to Turkey Fryers.
- Skip the stuffing when frying turkey, and avoid water-based marinades.
- Keep children and pets away from the fryer at all times.
- Once finished, carefully remove the pot from the burner, place it on a level surface and cover to let the oil cool overnight before disposing.
- Opt for an oil-less fryer. This uses infrared heat, rather than oil, to cook the turkey.
After your turkey is prepared, remember these Thanksgiving food safety tips to help ensure your family has a safe, enjoyable holiday.
If you do face a fire please call a professional restoration company like SERVPRO.
What To Do After A Fire
- Limit movement in the home to prevent soot particles from being embedded into upholstery and carpets.
- Keep hands clean so as not to further soil upholstery, walls and woodwork.
- Place clean towels or old linens on rugs, upholstery and carpet traffic areas.
- If electricity is off, empty freezer and refrigerator and prop doors open.
- Clean and protect chrome with light coating of petroleum jelly or oil.
- Wash houseplants on both sides of leaves.
- Change HVAC filter.
- Tape double layers of cheesecloth over air registers.
What NOT To Do After A Fire
- Don't attempt to wash any walls or painted surfaces or shampoo carpet or upholstery without contacting us.
- Don't attempt to clean any electrical appliances that may have been close to fire, heat or water without consulting an authorized repair service.
- Don't use any canned or packaged food or beverages that may have been stored near the fire, heat or water.
- Don't turn on ceiling fixtures if ceiling is wet. The wiring may be damaged.
- Don't send garments to an ordinary dry cleaner. Improper cleaning may set smoke odor.
Are You Prepared for Winter Weather?
Prepare Your Business for Winter Weather
- Check your business property for low hanging tree limbs and branches. Weather, such as wind, heavy rain, ice and snow, can cause branches to fall, which could cause damage to the property and potentially cause personal injuries.
- Inspect property, especially walkways and parking lots, for proper drainage to alleviated flood hazard potential.
- Inspect handrails, stairways and entryways to address and correct potential slippery or hazardous areas. Install mats or non-slip surfaces and post caution signs where water could be present .
- Ask our highly trained SERVPRO professionals about starting an Emergency Ready Profile for your business.
Prepare Your Home for Winter Weather
- Keep cabinet doors open during cold spells this allows warm air to circulate around pipes.
- Keep a slow trickle of water flowing through faucets , especially if the pipes for faucets run through unheated or uninsulated areas of your home.
- Consider shutting off outdoor faucets. Find the shut-off valve in the basement or crawl or crawl space and turn it to “off”.
- If you follow the previous step, then open the outdoor faucet to help ensure it drains completely and the inner valve is shut off.
- Ensure gutters are clean and secure. Leaves and debris accumulate, causing a damming effect on gutters, which could lead to roof problems and water damage
Are You Ready for Fall & Winter?
Prepare & Prevent
1. Clean and Stow Your Mower
If you’re not familiar with fuel stabilizer, get to know it. If your mower sits for months with gas in its tank, the gas will slowly deteriorate, which can damage internal engine parts. Fuel stabilizer ($10 for a 10-ounce bottle) prevents gas from degrading.Add stabilizer to your gasoline can to keep spare gas in good condition over the winter, and top off your mower tank with stabilized gas before you put it away for the winter. Run the mower for five minutes to make sure the stabilizer reaches the carburetor.
Another lawn mower care method is to run your mower dry before stowing it.
1. When the mower is cool, remove the spark plug and pour a capful of engine oil into the spark plug hole.
2. Pull the starter cord a couple of times to distribute the oil, which keeps pistons lubricated and ensures an easy start come spring.
3. Turn the mower on its side and clean out accumulated grass and gunk from the mower deck.
2. Remove Garden Hoses From Faucets
Remove garden hoses from outdoor faucets. Leaving hoses attached can cause water to back up in the faucets and in the plumbing pipes just inside your exterior walls. If freezing temps hit, that water could freeze, expand, and crack the faucet or pipes. Make this an early fall priority so a sudden cold snap doesn’t sneak up and cause damage.
Turn off any shutoff valves on water supply lines that lead to exterior faucets. That way, you’ll guard against minor leaks that may let water enter the faucet.
While you’re at it, drain garden hoses and store them in a shed or garage.
3. Drain Your Sprinkler System
Time to drain your irrigation system. Even buried irrigation lines can freeze, leading to busted pipes and broken sprinkler heads.
- Turn off the water to the system at the main valve.
- Shut off the automatic controller.
- Open drain valves to remove water from the system.
- Remove any above-ground sprinkler heads and shake the water out of them, then replace.
If you don’t have drain valves, then hire an irrigation pro to blow out the systems pipes with compressed air. A pro is worth the $75 to $150 charge to make sure the job is done right, and to ensure you don’t have busted pipes and sprinkler head repairs to make in the spring.
4. Seal Air Leaks
Grab a couple of tubes of color-matched exterior caulk ($5 for a 12-ounce tube) and make a journey around your home’s exterior, sealing up cracks between trim and siding, around window and door frames, and where pipes and wires enter your house. Preventing moisture from getting inside your walls is one of the least expensive — and most important — of your fall maintenance jobs. You’ll also seal air leaks that waste energy.
Pick a nice day when temps are above 50 degrees so caulk flows easily.
5. De-Gunk Your Gutters
Clogged rain gutters can cause ice dams, which can lead to expensive repairs. After the leaves have fallen, clean your gutters to remove leaves, twigs, and gunk. Make sure gutters aren’t sagging and trapping water; tighten gutter hangers and downspout brackets. Replace any worn or damaged gutters and downspouts.
If you find colored grit from asphalt roof shingles in your gutters, beware. That sand-like grit helps protect shingles from the damaging ultraviolet rays of the sun. Look closely for other signs of roof damage (#5, below); it may be time for a roofing replacement.
Your downspouts should extend at least 5 feet away from your house to prevent foundation problems. If they don’t, add downspout extensions; $10 to $20 each.
6. Eyeball Your Roof
If you have a steep roof or a multistory house, stay safe and use binoculars to inspect your roof from the ground.
Look for warning signs: Shingles that are buckled, cracked, or missing; rust spots on flashing. Any loose, damaged, or missing shingles should be replaced immediately.
Black algae stains are just cosmetic, but masses of moss and lichen could signal roofing that’s decayed underneath. Call in a pro roofer for a $50 to $100 eval.
A plumbing vent stack usually is flashed with a rubber collar — called a boot — that may crack or loosen over time. They’ll wear out before your roof does, so make sure they’re in good shape. A pro roofer will charge $75 to $150 to replace a boot, depending on how steep your roof is.
7. Direct Your Drainage
Take a close look at the soil around your foundation and make sure it slopes away from your house at least 6 vertical inches over 10 feet. That way, you’ll keep water from soaking the soils around your foundation, which could lead to cracks and leaks.
Be sure soil doesn’t touch your siding.
8. Check Your Furnace
Schedule an appointment with a heating and cooling pro to get your heating system checked and tuned up for the coming heating season. You’ll pay $50 to $100 for a checkup.
An annual maintenance contract ensures you’re at the top of the list for checks and shaves 20% off the cost of a single visit.
Change your furnace filters, too. This is a job you should do every two months anyway, but if you haven’t, now’s the time. If your HVAC includes a built-in humidifier, make sure the contractor replaces that filter.
9. Prune Plants
Late fall is the best time to prune plants and trees — when the summer growth cycle is over. Your goal is to keep limbs and branches at least 3 feet from your house so moisture won’t drip onto roofing and siding, and to prevent damage to your house exterior during high winds.
For advice on pruning specific plants in your region, check with your state extension service
10. Give Your Fireplace a Once-Over
To make sure your fireplace is safe, grab a flashlight and look up inside your fireplace flue to make sure the damper opens and closes properly. Open the damper and look up into the flue to make sure it’s free of birds’ nests, branches and leaves, or other obstructions. You should see daylight at the top of the chimney.
Check the firebox for cracked or missing bricks and mortar. If you spot any damage, order a professional fireplace and chimney inspection. An inspection costs $79 to $500.
You fireplace flue should be cleaned of creosote buildup every other year. A professional chimney sweep will charge $150 to $250 for the service.