What You Need to Know About Commercial Insurance

March 13, 2017 Commercial Insurance

You’re in business because you are following your passion.  You don’t want to spend time worrying about the risks faced by the operation of your business—that’s why you have insurance.

To ensure peace of mind, you’ll need to consider Commercial Property coverage and Commercial Liability coverage.

Commercial Property coverage will protect your business’ physical assets, such as buildings and contents, including office furniture and fixtures, equipment, inventory and stock, and property in transit.  The standard insurance coverage provides for losses caused by fire, smoke, water, theft or vandalism.  Other coverage is available for losses to outdoor signs, fencing and landscaping, as well as the income your business might lose if you have a loss.

Commercial Liability coverage protects you against claims for injury or damage that result from the use of your business premises, your business operations, your products or your completed operations.  Coverage is also provided for claims made against you arising from your advertising or from personal injury, and defense costs are covered as well.

All policies are not created equal. For  instance, there could be exclusions in the standard liability coverage you are not aware of and you may need to purchase separate coverage in those unique situations for such things as professional services, pollution, or director’s and officer’s liability coverage.

Making sure you get the right type of coverage means understanding your business’ risks.  It’s important to disclose all the activities of your business to your insurance Broker, who will customize a policy just for you.

Talk to one of our experienced Brokers to find the best fit for you.

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