Insure your industrial building against all kinds of unforeseen events with industrial building insurance. This type of commercial insurance is specially designed to protect industrial buildings from a wide range of day-to-day and unforeseen risks. Keep reading to learn more about how ALIGNED can help you find quality insurance coverage for your industrial buildings.
Coverage needs for industrial buildings
Insurance policies for industrial buildings vary between providers and policyholders, however, we generally recommend that owners of industrial buildings purchase policies with the following coverages:
- Commercial general liability insurance: Commercial general liability insurance, sometimes referred to as “slip-and-fall insurance,” protects against the day-to-day risks that come with owning an industrial building. For example, if a client visits your building and slips and falls in it, they could sue you. With this type of coverage, you might be compensated in the event of a third party property damage or bodily injury claim. Specifically, your insurer may cover the cost of medical expenses, repair bills, legal fees, etc up to the policy limit.
- Commercial property insurance: Protect your physical building and any business-related contents against unforeseen circumstances like theft, vandalism, fire, water damage, etc with commercial property insurance. When you add commercial property coverage to your industrial building insurance policy, your insurance provider may pay for repairs or replacements in the event of loss or damage caused by an insured peril.
- Cyber liability insurance: Cyber insurance might not be top of mind for industrial building owners, but as critical systems are increasingly digitally controlled significant damage and potential harm to others could occur if a hacker breaches your system. Your insurance provider may help cover the associated costs, which could include paying ransoms, liability from bodily injury or physical damage, legal fees, crisis control, patient notification, and more.
- Business interruption insurance: Business interruption insurance can protect your industrial building from lost income if it is forced to close due to an insured peril. Insured perils covered by business interruption insurance vary but can include theft, fire, vandalism, windstorms, water damage, and more.
- Equipment breakdown insurance: If a piece of equipment in your industrial building suffers an internal failure, such as a mechanical or electrical breakdown, equipment breakdown insurance could help cover the cost of repairing or replacing it. Even better, business income lost as a result of the equipment breakdown may also be covered by the insurance company.
- Commercial auto insurance: If your industrial building uses vehicles for business purposes, such as to transport materials, equipment, or products, you may benefit from commercial auto insurance coverage. Policies vary but may include third party liability coverage, uninsured automobile coverage, accident benefits coverage, etc.
- Commercial drone insurance: If your industrial building uses drones for business purposes, such as for inspection, aerial photography, or surveyance, commercial drone insurance might be important. This coverage may protect against damage to and loss of the drone, as well as ground station equipment and drone-mounted devices such as cameras.
- Crime insurance: Crime insurance can help mitigate the financial losses of employees or crimes related to your industrial building, such as employee dishonesty, fraud, burglary, robbery, theft, etc.
Do industrial buildings need commercial insurance?
Yes, industrial buildings need commercial insurance if they want to be protected from the financial consequences of an unforeseen event, like a fire, third party injury claim, and more. Without commercial insurance, the owner of an industrial building would be left to pay for the cost of damages or losses entirely out of pocket, which could have a serious, long-term impact on the financial health of your business.
Factors impacting the cost of insurance for industrial buildings
The cost of industrial building insurance varies between policyholders because insurance companies use many factors to determine rates. For example, many insurers calculate industrial building insurance premiums based on details like the size and location of the building or the number of employees who work at the building. Continue reading to discover some key factors used to determine the cost of insurance for industrial buildings:
- The location and size of your industrial building
- Your insurance claims history
- Your policy coverages, limits, and deductibles
- The number of employees at your industrial building
- The annual and projected revenue of your industrial building
- The operations conducted at your industrial building
Contact ALIGNED today to learn more about how insurance premiums are calculated for industrial buildings and to receive an accurate and competitive commercial insurance quote. Our team of insurance specialists is always on hand to answer your questions, explain your coverage options, and provide you with an obligation-free estimate.
Please note that insurance premiums are set by insurance companies, not brokers, but our insurance experts will shop around for insurance, compare rates, and walk you through the process of comparing, buying and/or modifying your future policy or filing a claim if/as needed.
Why buy industrial building insurance with ALIGNED
Not sure whether you want to enlist the help of a broker on your insurance journey? Consider the top three benefits of buying industrial building insurance with an ALIGNED broker below:
- ALIGNED brokers are experts in the industry: First and foremost, ALIGNED insurance brokers are fully licensed with years of experience working in the insurance industry. They have the resources and expertise to find you a great policy.
- ALIGNED brokers work independently of insurance companies: Next, ALIGNED brokers work independently of insurance providers, meaning you can always trust us to put your needs first. We strive to offer unbiased, objective advice to all our clients so that we can help them find the best policy for their needs.
- ALIGNED brokers take care of everything: The last reason to work with an ALIGNED broker is that they do all the heavy lifting. If you’re looking for a convenient, hassle-free insurance experience, enlisting the help of an ALIGNED expert is the way to go. From the moment you get in touch, we will take care of everything. Your dedicated broker will contact insurance companies to obtain quotes, compare policies, unlock discounts, and present you with multiple options.
Contact ALIGNED to learn more about insurance for industrial buildings
Looking for comprehensive industrial building insurance at a competitive rate? ALIGNED is here. We are dedicated to helping our customers find quality insurance coverage at competitive prices. We will take the time to understand your unique circumstances and coverage needs before shopping around for a fantastic policy. So if you’re ready to purchase insurance for your industrial building? Call ALIGNED and speak directly with an insurance broker today or click here for a free quote.