Commercial Property Coverage Insurance Types

Common Commercial Insurance Coverages to Consider Protecting your business and its financial investments is incredibly important. The various commercial insurance policies on the market today are designed to help you to protect yourself from certain risks, whether you’re concerned about a fire, theft of your property by an employee, or some other type of financially-crippling event. The following are a handful of commercial insurance policy types you may want to consider for your business.Commercial Property CoverageJust about every business has a need for some sort of commercial property coverage. Commercial property coverage will pay for damages to your building and/or your contents, depending on the type of policy you purchase. If you own your building, you’ll need both building and contents coverage. If you lease your building, you’ll need coverage for your contents and for any changes you make to the building’s interior. Commercial property policies can be enhanced with a number of additional coverage options, some of which are automatically included and some of which need to be manually added to the policy. The coverages that are included automatically will depend on the company you go through. Just some of the items to look for include boiler and machinery coverage, debris removal coverage, glass coverage, inland marine coverage, business interruption, and ordinance or law.

General Liability InsuranceGeneral liability insurance is an incredibly important commercial insurance coverage no business should be without. This type of coverage will protect you if you are sued for causing any sort of property damage or personal injury to a third party. These damages could be caused by a mistake in your work or from someone simply falling while visiting your premises. Commercial Automobile InsuranceCommercial auto insurance policies cover the vehicles used in the day to day operations of your business. These vehicles may vary, ranging from cars and vans to trucks, trailers, and 18-wheelers. The type of vehicle you have will determine the type of commercial auto policy you need to purchase. Malpractice CoverageMalpractice coverage is sometimes referred to as professional liability insurance and pays for damages individuals or businesses cause when they make mistakes that are not expected of someone at his level of expertise. Doctors, lawyers, accountants, and a wide variety of other professionals need to have malpractice insurance to protect their assets.

Workers Compensation InsuranceWorkers compensation insurance is required by law for any individual with employees. The rates will vary depending on the type of work you do and the amount of payroll you have on the books. The policy will, in most cases, prevent your employees from being able to sue you if they are injured on the job. It pays for medical expenses and even lost wages.There are dozens of insurance policies designed to protect commercial business owners. Talk to your commercial insurance agent about the types of coverage most appropriate for your business. You’ll be glad you took the time to protect business and your assets.