Quick and Dirty Guide to Commercial Insurance

Commercial insurance is a type of insurance used for a business and it's also considered to be one of the essential investments a business owner could make. It protects the business from potential loss caused by unforeseen circumstances.

Here are the most common coverages offered in commercial insurance.

General Liability

In order to protect their customers or visitors against injury that happened while on its property, most businesses need a general liability coverage. Aside from the customer's safety, this also includes the items sold and the operations made within the time being. A general liability would shoulder the damages up to the limits provided in their policy coverage, as well as the legal costs in any case that a business is sued.

Commercial Property

This includes the damage that occurred in a building, together with the personal property of that building. A coverage is provided for lost that's the result of vandalism, theft, fire, and other natural, as well as man-made incidents. A policy could come in the form of “all-risk,” where it'll cover various types of losses.

Professional Liability

For businesses that provide a service to customers, professional liability or Errors and Omission Insurance is needed. This type of coverage, prohibits negligence, malpractice, and oversight that could happen during the working hours.

Commercial Automobile

A business that uses automobiles could have them insured in the same way as you would insure a private's passenger vehicle. A business has the privilege to obtain a commercial automobile policy that would cover all the vehicles used in the business. It's an insurance policy that provides comprehensive coverage and liability that covers you for commercial use of the the vehicle.