Business Insurance Coverage
Where To Get Business Insurance
Business Insurance

BUSINESS INSURANCE (COMMERCIAL PROPERTY AND LIABILITY INSURANCE)

There are numerous types of business insurance (or some people call it Commercial insurance) and the precise breakdown of the types of coverage into categories is somewhat difficult because terminology and insurance company practices are not uniform. However some of the main Business Insurance types can be categorized as follows:

BUSINESS PROPERTY INSURANCE (COMMERCIAL PROPERTY INSURANCE)

In reality, broadly speaking, the term commercial property includes business property of all kind. There are actually series of so-called “commercial property insurance” policies that specifically cover;

  • Buildings,
  • Personal property of others in the care, custody, or control of the named insured,
  • Business personal property of the named insured

where each of these is specifically defined and subject to various exclusions, as they can be deleted or can be bought-back. Further more, commercial property can also be insured against specific named-perils basis or more comprehensive open-perils basis >> more…

 

 

COMMERCIAL GENERAL LIABILITY INSURANCE (CGL)

Commercial Liability Insurance can be designed to cover wide variety of liability loss exposures, including;

  • Premises liability
  • Business operation liability
  • Product liability
  • Completed operations liability
  • Contractual liability
  • Contingent liability

However, due to exclusions in policy forms, there is little or no coverage for;

  • Liability for injury to employees
  • Liability that arises from the rendering or failure to render professional services
  • Liability that arises from aircraft, auto or watercraft >>more…

 

 

COMMERCIAL AUTO INSURANCE

There are three types of Commercial Auto Insurance as follows;

  • Business Auto Coverage Form
  • Garage Coverage Form
  • Motor Carrier Coverage Form

The most common Commercial Auto Insurance is the Business Auto Coverage Form, and it is similar to Personal Auto Policy as far as the coverages that can be purchased. Available coverages include liability, medical payment, no-fault benefits, uninsured motorists, underinsured motorists, collision, comprehensive, specified causes of loss, and towing and labor.

Definition of auto is usually very broad as it includes any land motor vehicle such as trailers, semitrailers designed for use on public roads.

… more on Commercial Auto Insurance…