PARTS OF BUSINESS OWNER POLICY

General commercial liability insurance provides coverage to any company or business for bodily injury, personal injury and property damage that might be caused by the business’ operations or products, as well as any injuries that might occur on the business’ premises. A general liability claim is only triggered by either property damage (PD) or bodily injury (BI).  

Commercial property insurance covers your building, everything in it and just outside of it, including:

• Computers
• Furniture and equipment
• Exterior signs
• Fence and landscaping
• Important documents
• Inventory
• Others’ property

Professional liability covers you from damages caused by errors in job performance. If damage occurs as a result of the way you did your job or neglected to do your job, this is not covered by general liability but by a professional liability policy instead.

Essentially, professional liability coverage protects against damage from errors or omission in performing your professional services or doing your trade.

Commercial auto insurance covers the vehicles used in the performance of a job or any business-related automobile travel or transport. It also covers property damage and bodily injury caused to others involved in a commercial vehicle accident. 

Commercial trucking insurance provides coverage to repair or replace damage to your truck and/or cargo coverage in the event of an accident or theft. It also covers property damage and bodily injury caused to others involved in a commercial truck accident. 

Just like a personal umbrella policy, commercial umbrella policies increase liability limits for a business and offer more risk protection. It isn't possible to predict the amount that might be awarded to the winning party, an amount that you would be responsible for paying after an accident. 

Workers’ compensation insurance, aka. as “workers’ comp,” is insurance carried by a business or company that covers the medical expenses for employees that are hurt while at work. The coverage limits take care of Loss of consortium. Loss of consortium is the loss of companionship, comfort, sexual relations or the ability to bear children. It's any kind of emotional or relationship loss that occurs because of the accident. 

Garagekeepers covers losses to non-owned autos in the insured's possession while the insured is attending, servicing, repairing, parking or storing them.

Employment practice liability protects a business owner from any wrongful acts that occurs during the employment process. It can also occur during claims of misconduct or inappropriate employment practice. These policies cover businesses from liability any time workers claim their legal rights have been violated by the company.

The most common kinds of claims include: wrongful termination, sexual harassment, emotional distress, invasion of privacy, discrimination of any kind, and retaliation. 

Additionally, these policies also cover claims of failure to promote, deprivation of career opportunities, defamation, wrongful discipline, negligent evaluation, and mismanagement of employee benefit plans.

This type of insurance is designed to cover both liability and property losses that may occur because a company is involved in online and electronic activities and collects the sensitive personal and financial data of its customers. electronic activities and collects the sensitive personal and financial data of its customers. 

Business interruption insurance is a type of insurance that covers any loss of income that a company suffers after a loss or disaster.

The income loss can be due to the rebuilding process afterwards. This insurance covers any income losses that were lost because the business was closed.