Determining if Your Business Requires Earthquake Insurance

Running a business is all about knowing what precautions you need to take in order to protect your assets. One way to achieve this is by considering your insurance policy. A sensible policy is one that appropriately reflects the risks the business faces on a regular basis. When it comes to protection in the event of natural disasters like earthquakes, there are a handful of points that you should think over in order to find a policy that adequately meets your needs.

Consider Geography

When researching your options for an earthquake insurance policy, you want to take a few factors into consideration. For one, it is important to think about geographical location. In California, for example, earthquakes are commonplace and there are many regulations in the state dictating how businesses must take out such coverage. In New Jersey, however, earthquakes are incredibly rare and policies are not commonplace. However, an earthquake can still take place here, meaning the coverage might prove useful. Other areas to research when putting together an insurance policy for your business include:

  • Workers’ compensation coverage
  • Commercial auto protections
  • D&O policy options

Review Your Options

There are a number of steps you need to take in order to find fitting insurance for your business. Take time to review all of the options in front of you and see which policy offers the most.