Does Commercial Insurance Cover Inventory in West Hartford?

Whether you sell high-end computer equipment or discount clothing, your inventory has everything to do with how much you generate in revenue. If you’re a business owner in West Hartford, CT, you’re going to want to make sure that it’s protected from damage, theft, or loss. ALLConnecticut Insurance can give you a few tips about how your stock works under your commercial policy and what you can do to safeguard it from harm. 

How It Works 

The inventory you use for your business is usually covered by some sort of commercial insurance. If you purchased the property, you would likely file a claim under commercial insurance. If you’re renting the property, it’s likely to be covered by a standard business owner policy. But even though your inventory is likely to be covered, it’s important not to make assumptions about the covered events or the maximum limits for the inventory you have. 

Understanding the Details 

Let’s say that you own a business that serves about 100 shoppers a day when there’s suddenly a shift in consumer preferences. Because of this shift, you begin to serve 200 people a day. As you struggle to order more inventory to fit the demand, you don’t think to call your insurance company to tell them that your inventory has fundamentally changed. If something happens to all that additional product, the insurance company may not cover it if they were unaware you had it in the first place. 

If you want to learn more about commercial insurance in West Hartford, CT, ALLConnecticut Insurance can answer more about the events you should be planning against and the best policy for your business. Because every business is different, you need a plan that fits with your goals.