If you have a commercial insurance policy at LeapFrog Insurance in San Antonio, TX, you know that you are protected in case of regular problems like theft or fire. Your coverage includes equipment, furniture, and other items, all of which have a fairly specific value.
Your business is also responsible for many important papers, and these are harder, if not impossible, to access the value. These include leases, insurance policies, permits, and other kinds of important original documents ("important papers" in this sense never means stocks and securities). You are responsible for storing them and protecting them, and if they are destroyed in a fire or tornado, you will need to replace or restore them somehow.
Most commercial insurance properties will specify that important business papers are not covered under the policy. If you feel that it would be better to provide coverage for your papers, you may be able to get the additional coverage with a coverage extension.
To assess the value of the papers, you will have to determine how expensive it will be to replace them. For instance, if your accounting records are destroyed, the cost of replacement will depend on how many hours it will take to re-create the records. You can ask for the physical value of the ledger and the hourly wage of the person who will be performing this complicated work.
You may be able to get coverage through an endorsement. There is no coverage for the loss of electronic records, but you may be able to get electronic data processing coverage.
When you decide to take steps to get better protection for your business, call LeapFrog Insurance and we will help you explore your additional commercial coverage options in San Antonio, TX.