Commercial Property Insurance for your Business

Commercial property insurance is a must-have policy for any business owner as this coverage will protect you from a major loss as a result of theft, natural disaster, and other damages to yourcompany’s assets.

It’s nice to think that your company’s belongings will never be stolen, set on fire or otherwise damaged, but it’s even better to be prepared in order to avoid losing a potentially large amount of money. A commercial property insurance policy is similar to a homeowner’s policy at its core, but it can be at a much larger scale due to the higher amount of risk.

If you’ve ever considered this type of coverage but didn’t know where to start, we’re here to help! Below are a few key questions you may have and our answers to them:


What does this policy cover?

A commercial property insurance policy covers several types of buildings including the following:

  • Apartment Buildings
  • Shopping Centers
  • Office Buildings
  • Warehouses
  • Industrial Parks
  • Self Storage
  • Bed, Breakfasts
  • Motels and Hotels

The word “property” applies to the building itself, its contents, and other people’s items on the premises. You can be reimbursed for any money paid minus your deductible.

It’s important to remember that not every situation will be covered. As with homeowners insurance, damage caused by a flood is not covered and requires a separate policy. Earthquake damage is not covered either. However, other weather-related losses such as fire, hail, and freezing entitle you to compensation from your insurance company.

How much does it cost?

Your annual premium for a commercial property insurance policy will vary depending on several key factors; for example, is your business located in an urban, suburban, or rural setting? How many people are in your building on a regular basis? If you’re located in a big city with hundreds of clients going in and out of your door every day, your premiums are naturally going to be higher than a suburban office that only houses a handful of employees.

Essentially, the bigger the risk you’re perceived to be by insurance carriers, the more you’re going to have to pay. It’s a good idea to take inventory of all your assets before requesting a quote in order to make the process as quick and easy as possible.

Where can I get this policy?

Give Risk Averse a call at (610) 335-1139 or simply fill out the form at the bottom of this page to request a quote, and we’ll be in contact with you within 24 hours. Since we’re an independent broker, we’ll shop for the best price so that you can get the coverage you need at aprice you can afford. All the major carriers provide commercial property insurance coverage, so we’ll be able to get a variety of options for you based on your business’ specific needs.


Call Risk Averse Insurancein Media, PA to discuss commercial property insurance for your business.

Risk Averse Insurance is an independent insurance agency in Delaware County that specializes in providing high-quality insurance products at an affordable price.

3 Lesser-Known, Strange Insurance Policies

Everyone has heard of homeowner’s insurance and car insurance, but what about the lesser-known, borderline strange insurance policies that are out there?

If you lived near Lincoln County, Nevada, you may be concerned about your chances being abducted by aliens due to your proximity to the infamous Area 51. There’s an insurance policy for that! Alternatively, if your home was haunted and you were hoping to receive compensation in the event that your paranormal roommate was to wreak havoc on your property, there’s insurance coverage for that too. Read on for more information about these strange insurance policies, plus a few more.

Alien Abduction Insurance

As odd as it may sound, many have already invested their money in alien abduction insurance policies. Lloyd’s of London alone has sold around 20,000 of these policies to concerned citizens, and this is based on an estimate from 2015. Who knows how many more policies they could have sold in the past four years? Alien abduction insurance is a big hit across the pond as well;Goodfellow Rebecca Ingram Pearson, a firm based in London, has sold over 30,000 policies in Europe. There is even an insurance company by the name of UFO Abduction Insurance Company that exclusively sells alien abduction insurance which can be delivered to the customer digitally the day it’s purchased.

In order to receive any sort of money from an insurance company that offers this niche coverage type, you’ll need to provide proof that an alien abduction actually occurred. Nay-sayers may believe that this is an impossible feat, butMike St. Lawrence, president of the aforementioned UFO Abduction Insurance Company located in Florida, says he has actually paid out a few claims. The payout isn’t a huge amount, however; claimants can expect to receive $1 a year for the next 10 million years.

Insurance Against the Paranormal

If you have ghosts in your home or your business, obviously the first person you’re going to call is your insurance agent, right? Maybe we wouldn’t immediately come to mind in that scenario for most, but believe it or not, business owners have taken out insurance policies specifically to protect their business and employees from the supernatural.

Terry Meggs, the landlord at the Royal FalconHotel in Lowestoft, England, invested in an insurance policy for $500 a year in 2002 to protect his customers and employees in case they were to be attacked or killed as a direct result of one of the paranormal entities in the building. Meggs claimed to have seen glasses move of their own volitionacross the bar one night, and became very concerned that the spirit responsible may attempt to hurt the patrons at his pub. His insurance policy will pay up to $1 million in the event that anyone is killed or injured on the premises.

Meggs isn’t the only one who has insurance protection against supernatural beings; TV shows that follow paranormal investigators as they attempt to collect evidence of ghost activity such as Ghost Adventures and Ghost Huntershave insurance due to the high amount of risk they face on a regular basis. Since the stars of these shows do theirinvestigations through the night, it’s extremely challenging for them to see anything. Under these circumstances, it’s almost inevitable that at least one person will trip over something, run into a door, or fall to the ground. This is even more likely due to the fact that a large portion of these investigations are done in abandoned buildings that are unkempt at best. Due to this, these shows have procured professional indemnity and public liability insurance in case anyone is hurt by something in one of their investigations whether it be a random accident or a ghost attack.


Asteroid Insurance

Last on our list of strange insurance policies is asteroid insurance. You may be thinking to yourself, “who would spend their money on asteroid insurance?” Don’t be too quick to judge, because you’re actually covered for this already! Technically, insurance specifically for asteroids damaging/destroying your property is not a separate policy you can buy, but it is included in most homeowners and business owners policies. Asteroids often fly past the Earthwithout too much cause for worry, but if one did happen to breach our atmosphere and go hurtling towards your home or business specifically, you could report a claim to your insurance company.

Damage to your property as a result of falling objects including ones from space such as spacecraft debris, meteors, and asteroids are covered under standard homeowners and business policies. So, lucky for you, next time you see in the news that an asteroid is coming close to the Earth, you don’t have to worry– insurance coverage that you may not have known you had can provide compensation!

Call Risk Averse Insurancein Media, PA to discuss personal or business insurance.

Risk Averse Insurance is an independent insurance agency in Delaware County that specializes in providing high-quality insurance products at an affordable price.

What to Know When Buying a Used Car

Buying a used car is a great option if you’re looking to upgrade your vehicle but purchasing a brand new one is either unrealistic or unnecessary. However, used cars can come with risks of their own if you aren’t careful and don’t vet properly in your hunt for a newer vehicle.

If 2019 is your year to upgrade your current vehicle for one reason or another, a used car may be your best option; it’s more affordable, and many times it’s been refurbished to look like new. When taking this route, you’ll need to take some proper precautions and plan ahead to ensure that the process is as seamlessas possible.

If you’re thinking of buying or actively in the process of searching for a used car, follow these steps and you’ll be on the road in no time:

Create a budget

This will take some time. Generally, a car payment shouldn’t cost you more than 15% of your monthly income; be sure to account for student loans, gas, groceries, and any other expenses that you regularly pay for when calculating this number. If you do not have enough cash to purchase your used car on the spot, you will need to take out a car loan in order to pay for the vehicle. It’s best to take out the loan before buying the car.

Decide on the car you want

You may choose to purchase a used car that’s the same brand as your current one, or you can do some research on the reliability of other brands if you feel like switching things up. Consumer Reportshas a list of specific used cars that you should avoid buying due to their low reliability. This website has a breadth of resources for anyone looking to purchase a pre-owned vehicle including a search option for local used cars, and a variety of articles that list the best and most affordable vehicles on the market.

Research local options

There areseveral websitesthat will allow you to quickly search for used vehicles in your area. You can specify your search based on the make and model of the car you want, and the maximum amount you’re willing to pay for it. A couple of these websites utilize the vehicle’s Carfax report, but it’s important to note that insurance companies do not report to Carfax. If you’re looking for a cheaper option, you can purchase your car directly from an individual through a website like Craigslist. However, it’s essential to be careful with sites like these as it is much more likely that you will be scammed.


Set up a phone call with the seller

You’ll want to contact the seller of the vehicle you’re interested in to make sure their advertisement was accurate before taking the time to see their used car in person. Verify information regarding the car’s owner history, mileage, features, and so on over the phone. If the seller does not seem to be legitimate, don’t set up a meeting with them and continue your search elsewhere.

Test drive the car

Once you’ve decided on a seller, test the car on the road to make sure you like the feel of it. If you like the car but something seems off, ask if you can take it to a mechanic to have the vehicle inspected. This shouldn’t be a problem, but some sellers insist they’ve already had it inspected and it isn’t necessary to do so again. If you feel as if the vehicle needs to be looked at, take it in anyways.


If you’ve done your research beforehand, you’ll know how much the used car you want is worth. When negotiating the price, stick to your budget and be prepared to walk away if the salesperson refuses to come up with a price you deem reasonable.
Start with a lower price, but not so low that you’re not taken seriously as a buyer. If you receive pushback, increase what you’re willing to pay in small increments until you reach a deal.

Contact your insurance company

Before driving away with your usedcar, you’ll need to let your insurance provider know that you’re adding a vehicle to your auto insurance policy. If you traded in a vehicle to do so, tell them this as well. They will be able to fax over a new auto ID card to the dealer, so you can leave the parking lot without worrying about being pulled over without proper proof of insurance.


Call Risk Averse Insurancein Media, PA to discuss auto insurance for your personal or business vehicle.

Risk Averse Insurance is an independent insurance agency in Delaware County that specializes in providing high-quality insurance products at an affordable price.

Prepare Your Business for the New Year

It’s officially 2019! While the years seem to be flying by, it’s important to take the time to stop and take stock of what’s important for your business in the coming year. Setting goals for yourself, your employees, and your company as a whole should be a priority this January; successfully sticking to these goals and redefining them as necessary should be a priority for the entire year.

One important task to complete for the new year isensuring that your insurance policies are up to date. Contact your insurance company with any questions you may have, and consider adding additional coverages if you deem it necessary. If you don’t have or are unable to find a full copy of your insurance policy/policies, make sure you request one so that you know how much coverage you have in the upcoming year. In the case that you want to invest in an additional insurance policy, consider contacting an independent insurance agency so that you can be sure that your business is protected at the best possible price in 2019.


Another great way to start out the new year is to review your business’ website.If your website hasn’t been updated in years and you haven’t looked at it in as much time, take review each page of your website and make changes as necessary. Most importantly, be sure that your website is optimized for mobile use.More than halfof all website traffic originates from a mobile phone. Due to this, if your website is not mobile-friendly, you could be losing some potential clients. Contact your website developer if you are unsure about how your page appears on mobile devices.

Set up a budget and stick to it.Meet with your staff as needed and fill them in on how much money can be spent within each department. Defining a clear monthly budget is an excellent way to both save and keep track of your business’ money. Keep in mind, however, that the budget may be subject to change depending on circumstances, so be prepared for some flexibility along the way.

Overall, it’s essential that you and your employees stay diligent throughout the new year and take some time to reflect on what worked in previous years as well as any areas that require improvement. Additionally, make a point to review each of these suggestions halfway through 2019 and check your progress.

Have a safe and Happy New Year!


Call Risk Averse Insurancein Media, PA to discuss your business insurance needs.

Risk Averse Insurance is an independent insurance agency in Delaware County that specializes in providing high-quality insurance products at an affordable price.