Business Catastrophe Insurance in Rapid City SD & Spearfish SD
Business catastrophe insurance is an additional level of coverage that goes above and beyond the standard business policy most small and medium-sized companies have. As a business owner, you want to be absolutely sure that your investments are protected in case of unforeseen calamity—nobody wants to see all of their hard work destroyed by fire, theft, or anything else. However, every policy has its limits, and if the damage to your business is so severe that it exceeds the limits of your current business or property coverage, you'll be expected to pay the difference yourself.
Business Catastrophe Insurance Features
Business catastrophe insurance comes into play to prevent you from having to pay the excessive cost of a catastrophic loss. If you exceed the normal limits and the claim is for a qualifying event, this coverage will provide an additional level of protection and reduce or eliminate the portion of the claim that you would otherwise have to pay out of your own pocket. Here are the important things to know about this policy:
- Business catastrophe insurance coverage amounts are proportional to individual business types and indemnity periods. Most companies purchase this policy and get at least one million dollars of coverage, just to be absolutely sure they have the protection they need if something goes extraordinarily wrong. Sometimes these extraordinary situations can arise due to the nature of a certain business, or because of a freak accident or natural disaster. One of our agents can help you determine an appropriate coverage length and amount.
- This coverage may protect you from things your normal policies do not. While the specifics depend on the plan you get, business catastrophe insurance is usually offered as an umbrella policy that can cover almost anything that might occur.
- This is the last resort, not the first. If a claim is covered by your normal policy and doesn't exceed those limits, your business catastrophe policy will not be utilized. Its main purpose is protecting you against particularly large claims, just in case something goes wrong and you truly need the extra protection.
For more information about business catastrophe insurance, give First Western Insurance Agency a call today.
Our Locations
First Western Insurance (Rapid City)
2630 Jackson Blvd, Suite 202Rapid City, SD 57702
Fax: 605-342-4579
First Western Insurance (Belle Fourche)
41 Fifth AveBelle Fourche, SD 57717
Fax: 605-892-6267
First Western Insurance (Custer)
40 North 5th StreetCuster, SD 57730
Fax: 605-673-2330
First Western Insurance (Deadwood)
460 Main StreetDeadwood, SD 57732
Fax: 605-578-3462
First Western Insurance (Hill City)
427 Main StreetHill City, SD 57745
Fax: 605-574-4975
First Western Insurance (Hot Springs)
242 S Chicago St, Suite 2Hot Springs, SD 57747
Fax: 605-745-7899
First Western Insurance (Newell)
106 8th StNewell, SD 57760
Fax: 605-456-2807
First Western Insurance (Spearfish)
132 E Illinois StreetSpearfish, SD 57783
Fax: 605-642-7315
First Western Insurance (Sturgis)
238 Main St, Suite 1Sturgis, SD 57785
Fax: 605-347-4730
First Western Insurance (Wall)
418 Main StreetWall, SD 57790
Fax: 605-279-2292
Testimonials
Derek J. N.