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Business owners in the Surprise, AZ area often ask the team at Giles & Iten Insurance about protecting their inventory. A business’ inventory can fluctuate quite a lot depending on the time of the month or the time of year. If your business carries a lot of inventory that needs protection, we recommend a thorough review of your current commercial policy to ensure that you have the coverage you need. If you are concerned that your commercial policy does not meet your needs for inventory coverage, it’s a good idea to find out for sure.
Shifting Inventory Levels Can be Protected with a Comprehensive Policy
At some times during the year, your inventory may be at a low level due to the seasonality of your business. At other times, you may have a warehouse full of product. Depending on where you were in the business cycle, you may have underestimated the value of your inventory. When your comprehensive commercial policy is written to account for the variances in your inventory levels, you will be covered.
It is advisable for your commercial policy to provide protection at the highest level of inventory that you carry. Many people work out an average of the value of goods that they store throughout the year rather than at their highest level. The use of this calculation can create problems for the policyholder in the event that there is a coverable loss. Many businesses have a lot of capital dedicated to inventory, and protecting this investment is an important part of an insurance portfolio.
Want to make sure that your inventory is covered? Contact the team at Giles & Iten today to learn more about your comprehensive commercial insurance options in the greater Surprise, AZ area.
