If you own a company that performs on-site services, such as maintenance or janitorial work, property insurance can help protect your important equipment. But did you know that protection only covers your equipment when it is at your office or primary business location?
That’s where Supplemental Property Insurance Coverage Endorsement, or SPICE, comes in. This additional coverage means that your cleaning or service equipment is protected while you travel to and from job sites, and while you’re there performing your work. It even covers your property for theft or damage if you have to step out or, as often happens with larger projects, leave your equipment overnight.
Another important perk of SPICE coverage includes Business Interruption Insurance. This helps if, for example, a fire, weather event or other damage occurs at a job site and prevents you from completing a contracted assignment. You can collect Business Interruption Insurance to cover lost income in this scenario.
Finally, SPICE provides additional coverage for your employees’ actions, including theft and forgery. Although no one wants to believe their employees will break the law, there’s nothing wrong with being practical. What’s more, this extra padding in your policy can help build–and if needed, save–valuable client relationships in the long term. By assuring clients from the beginning that you can cover any missing property, the client will be able to hire you with confidence and trust that you have their best interests in mind.
Ready to SPICE up your business policy? Fill out our easy online form to find the best solution for you.