Being a business owner means you have to deal with life’s unexpected moments when they happen. Your business may be your biggest investment and in a split second, accidents can happen that can affect the entire future of your business if you aren’t prepared. If your building suffers damages requiring restoration, will you be faced with challenges that may lead to financial devastation or will you have ordinance or law insurance protection that ensures your building will be restored/repaired within the legal guidelines established?
Perhaps you are the owner of an older, small restaurant and fire damages your business almost entirely. Your plans to renovate seemed straightforward until you found out the many different ordinances and laws that govern how you restore your business. You are now faced with legal ordinance issues concerning the electrical system and plumbing that you never considered and without the right type of Alabama business insurance, you will be left to pay the costs above and beyond your insurance limitations.
Face Your Business Challenges Head On
Being faced with this situation is why you should know the afforded coverage of Ordinance or Law Insurance. Having this endorsement provides protection during the demolition, restoration, and repairs to your building to ensure you are within the guidelines recognized by the state government and local ordinances. Below are the features of this endorsement to consider, especially if the building you own is older.
- Costs to demolish and remove debris from the undamaged part of the building (within the legal guidelines)
- Increased costs to update/repair/restore the building (damaged/undamaged) as required by the state and local ordinance (electrical, heating/air, plumbing)
- Decreased value of the undamaged part of the building that is legally required to be demolished in order to satisfy the law or ordinance
Keep in mind that a standard Alabama business insurance policy may have limitations, provisions, and exclusions for repairs and restorations on older buildings that must be performed within certain legal standards. If you have concerns as to whether this may be the right type of added insurance for your business needs, it is recommended you contact your local Alabama independent insurance agent.
Protection for a Nominal Fee
Having the right type of business insurance means you can focus on the day-to-day handling of your business without the financial worry of unexpected losses that may occur. For a nominal fee, you can invest in Ordinance or Law Insurance Coverage and optimize your business protection in order to have the peace of mind you deserve. Burkett & Associates Insurance Agency understands your needs as an Alabama business owner and is here to assist you with any questions you may have regarding this endorsement or any other business insurance needs you may have. Call us TODAY at 256-704-7400.
