1001 Dove Street, Suite 185
Newport Beach, CA 92660
The broad spectrum of properties and services represented by business interests are unique and varying. Therefore, our agents at Murvay Insurance Services, Inc. in Newport Beach, California are prepared to discuss your concerns in person. We can ask you questions about your business, learn what kinds of coverage you're looking for, and help you understand the complex field of commercial insurance terms and California state requirements. Here are a few terms that business owners need to know:
Commercial insurance includes open perils policies and specified perils policies. Open peril refers to coverage for losses from various forms of damage (only excluding a few specific ones). Specified perils refer to a more limited and specific range of coverage. Our agents can provide the details of what falls into each category.
When insuring, consider Actual Cash Value (ACV), agreed value, and replacement cost. Each of these refers to the level of coverage for the replacement of the business and its components because of specific incidents. In California, the ACV is usually recognized as the Fair Market Value of the business property.
Other aspects of insurance can include Glass Coverage, Legal Liability, Peak Season, and Time Element coverage. Each of these provides specialized coverage that may or may not apply to your business. It's important to protect your business in practical ways that will provide solutions when you face losses.
Rather than spend months getting back to work and losing all the revenue and public recognition that is associated with your business, investigate insurance that will get you back to work as quickly and reliably as possible. Newport Beach, California commercial insurance coverage is not only a state requirement, but it's one of the wisest investments you can make for your property and services. Contact Murvay Insurance Services, Inc. today.