Insuring Your Business Property


A small business is almost always better served with an “all-risks” policy than with a “named peril” policy. The named peril policy will cover risks that are specifically enumerated in the policy, whereas the all-risks policy will cover risks that are not excluded. With the all-risks policy, business owners don’t have to manage duplication of coverage, gaps in coverage or dealing with multiple attorneys in the event of a claim. Of course, if your business is subject to unusually high risks for a specific calamity, additional insurance for that sort of damage should be considered.

Both risks and types of property should be assessed to determine whether coverage is adequate. Typical risks include:

  • Fire
  • Flood
  • Earthquake
  • Nuclear accident
  • Hail
  • Windstorm
  • Vandalism
  • Crime
  • Explosion
  • Riot and civil commotion
  • Damage from aircraft or automobile
  • Building collapse
  • Glass breakage

Types of property to consider insuring include:

  • Buildings
  • Improvements to buildings
  • Owned equipment
  • Leased equipment
  • Supplies
  • Inventory
  • Machinery
  • Boilers
  • Data processing equipment
  • Automobiles
  • Trucks
  • Mobile construction equipment
  • Satellite dishes
  • Fences and signs
  • Valuable papers and documents
  • Intangible property
  • Accounts receivable
  • Money and securities

Work with your leadership team and insurance professional to determine the types and amounts of coverage that are right for your business.

Matt Tarkenton

Matt Tarkenton

Matt Tarkenton is Executive Vice President at Tarkenton Companies, and has started several businesses and is interested in business formation, strategy, and growth. He was part of a group that started Renova Partners, a boutique investment bank, and was recognized as a “40 Under 40: Up and Comer” by the Atlanta Business Chronicle in 2009. Matt performs business planning and marketing training for hundreds of professionals across the country, and co-hosts a weekly coaching program on entrepreneurial education. Matt graduated from Princeton University, and received an MBA from Harvard Business School. He maintains his Series 7, 63, and 79 licenses, and currently serves on the Board of Directors of Youth Villages, on the Education Committee of the National Association of Fixed Annuities (NAFA), and in leadership positions in various organizations.