Since 9/11, damage to commercial buildings, property and other losses related to acts of terrorism have generally been included in standard business insurance policies but can be added, or 'endorsed', as an option.
The additional cost for terrorism insurance will depend on a number of factors such as the location of your business as well as the nature of your business, but costs generally will range somewhere between 3% and 5% of your total commercial property insurance costs.
It's important to note that so call NBCR attacks - nuclear, biological, chemical or radiological - are generally not included in terrorism insurance policies and an attack or event has to be certified as act of terrorism by the U.S. Department of the Treasury.
So is terrorism insurance a good idea for your business? Talk to us - we'll give you an idea of costs and help you weigh the risks to help you decide if this type of insurance should be part of your portfolio.
Do you have questions about Terrorism Insurance?
Contact an insurance specialist at Witkemper Insurance Group and Financial Services today to answer any questions about Terrorism Insurance or for a free review and insurance quote for Terrorism Insurance. And don't forget, as an independent insurance agency, we represent several top rated insurance companies. We have the flexibility to find you the right coverage at competitive premiums for business, home, auto and more.
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Since 1984, Witkemper Insurance and Financial Services have been providing insurance and financial service solutions for over 40 national insurance and financial service companies across the United States.
104 East 10th Street Greensburg, Indiana 47240 Phone: (812) 663-3500 Toll Free: (800) 395-2478 Fax: (812) 663-3421
7740 East 88th Street Suite 100 Indianapolis, Indiana 46256 Toll Free: (800) 395-2478 Fax: (317) 288-7059