If your business’s building has a mural painted on its walls, or a monument sign that helps brand your location, you know that these things often add character to your property. If they were damaged, destroyed, or vandalized, you’d want them restored in the best way possible. However, some commercial property policies may not have the coverage you need to do so. Let’s talk about why.
Limits
Your commercial property insurance likely has some coverage that would pay for damage to signs or murals in a covered loss. The question is, what are the limits? If you paid an artist $3,000 to paint a mural on the side of your building, and someone drives into that wall – how much coverage do you have? Your insurance would likely pay for repairs to the wall, but would you have enough to have the mural redone?
The same may be an example for a roadside monument or elevated sign. If you have a BOP for your business’s insurance, there may not be coverage for outdoor signs that aren’t connected to the building. They likely can be added by an endorsement to the policy, however, and the same question about limits needs to be asked. How much would it cost to replace your sign and
Exclusions
Another thing to note about your signs and murals is what may be excluded from being covered. Some policies may exclude vandalism from coverage, and others may have specific language about lighting for signage. If you are currently having a mural painted, you may want to ask about coverage for it while it is in-process as well. Especially if it is a large financial investment.
Let’s talk through your signage and mural needs that may be unique, and make sure you have the coverage in place to protect them. Contact Brandon Patterson at 865.453.1414 or brandon@ownbyinsurance.com