Businesses in Bethlehem, PA, rely on their assets to conduct daily operations. However, unexpected events, such as theft or equipment damage, can disrupt business activities. At Saucon Insurance Agency, we’re here to help you prepare for potential losses with a commercial insurance policy. Here’s how this type of insurance can help your business recover.

How a Commercial Insurance Claim Works

If your business experiences a robbery or equipment damage through no fault of your own, you can file a claim with your insurance company. The insurer will send an adjuster to assess and validate the claim, then compensate you for the value of the loss. Depending on your policy, you’ll receive either actual cash value or replacement value.

Actual Cash Value

With an actual cash value policy, you’ll receive the current market value of the item that was lost. This means you won’t get the brand-new price of the item but rather the depreciated value, which can be used to purchase a replacement item.

Replacement Value

Replacement value policies provide a one-to-one replacement for your lost items. You’ll receive the full price of the item without factoring in depreciation. For example, if you lost five pieces of equipment, the insurer will compensate you for their replacement value, up to the limit of your policy.

Contact Us to Learn More

At Saucon Insurance Agency, we’re committed to helping you protect your Bethlehem, PA, business against loss. Commercial insurance is designed to safeguard your business in worst-case scenarios and provide the funds needed for recovery. Contact us today to learn more and let us help you find the right policy for your needs.