When businesses are looking to expand their organizations and build more locations, it's important for company decision-makers to take the proper precautions in the process. Not only is it necessary to have a comprehensive commercial insurance policy in place for when the firm is up-and-running, it's important to keep employees protected throughout the expansion process as well.
For example, builder's risk insurance will cover an organization's insurable interest in materials, fixtures and/or equipment being used in the construction of a building or structure should any items sustain physical loss or damage from a covered cause.
In September, a VegasINC article explored the increase of medical facilities being built in Nevada. The news source said that skilled nursing centers and hospital expansions were in the works.
"There's no guarantee all of the projects will be built," the article explained. "To be sure, the valley has seen its share of unrealized projects, and commercial construction in general is almost nonexistent in the region. Financing is difficult, if not impossible, to obtain."
However, a more recent VegasINC piece discussed the success of a $5 million hospice center set to open in the southwest Las Vegas Valley in mid-May. According to the news source, Infinity Hospice Care started construction in the fall on a two-building, 19,000-square-foot campus on South Jones Boulevard.
Infinity is a family-run business, Brian Bertram working as vice president, his mother taking the helm as president and his brother, Darren, holding down the CEO position.
Companies like Infinity that are seeking business growth in the Las Vegas and surrounding areas would be wise to invest in Nevada business insurance along with Nevada contractors insurance. That way, they can be completely protected for a number of situations throughout the entire expansion process and beyond.