You may ask yourself, when should I insure my property?
The answer is IMMEDIATELY!
Your business or home are two of the biggest and perhaps the most costly investments you’ll ever make in your lifetime, and as a home or business owner, it seems financially irresponsible to not purchase property insurance.
Then there’s…Why should I insure my property?
The most important reason to purchase property insurance is the uncertainty of the future, as you can’t predict what will happen in the next moment. If these doesn’t “sway” you, then maybe the below will:
- Natural perils can strike anytime – Unfortunately, natural calamities, like flood, earthquake, cyclone, etc.; are the reality of today’s life.
- Man-made risks can cause severe damages – Many times, even trendiest safety gadgets and security equipments fail to secure your property. As a result, man-made threats like riots, terrorism, strike, thefts, etc.; can arise anytime.
- Business loss can arise to disrupt your growth – Imagine a scenario, where you would have to face heavy losses due to the breakdown of your machinery. In such a case, if you have a suitable office insurance policy, you would be able to get a compensation against business loss incurring during the time-period.
- Accidental damages can arise – While most of the people do not pay heed towards this point, however, office equipments like furniture, appliances, etc.; can cost a lot if you put them together. Hence, getting content insurance is necessary to get financial coverage in case of any loss or damage.
You might want to take heed and have knowledge of the least preferred times to purchase Property Insurance.
- Beginning or during a Hurricane Season
- Threat of a Hurricane to the island: It is less likely that Insurance companies will accept policies during this time
Note that during these times, the insurance premiums are very high.