Having commercial liability insurance can prepare and protect your company if someone makes a claim for damages in cases of bodily injury, damage to property, copyright infringement, libel, slander, and more.
Commercial property insurance covers loss or damage to physical assets caused by events such as fire, storms, vandalism, and theft. Depending on your business, you may also opt for additional coverage for flood, equipment breakdown, or other causes of loss.
Commercial auto insurance protects company vehicles and the employees that drive them. Whether it’s a single company car or a fleet of commercial vehicles, the right policy can cover physical damage, liability claims, and uninsured/underinsured drivers.
Basic commercial property insurance doesn’t cover losses related to certain crimes. Some examples of this type of coverage include:
- Employee Dishonesty
- Forgery or alteration
- Theft of money or securities
- Burglary or robbery
- Computer fraud
A basic commercial policy does not cover flood damage. Depending on where your business is located, you may need this additional coverage. The definition of a “flood” is very specific: a general and temporary condition where two or more acres of normally dry land, or two or more properties, are inundated by water or mud. Some of the typical causes of flooding are overflow from a lake or river, broken levees, excessive rainfall, and hurricanes.