What does commercial insurance not cover?


What does commercial insurance not cover?

Standard commercial real estate policies may not cover losses caused by certain types of natural disasters, floods, and other severe weather events. The same applies to customer property held by your company. The standard professional liability policy does not cover things such as intentional and fraudulent behavior; Fidelity Bond can cover certain fraud or theft. Standard liability insurance does not cover car accidents-for this you need commercial car insurance.

The standard insurance policy type of an enterprise cannot cover everything, but additional insurance companies can be added to the standard insurance policy to help cover additional risks. .

To learn more about how to get commercial insurance and how commercial insurance can help protect your hard-working business, get a quote now.

Commercial umbrella insurance acts as a safety net, providing additional protection when other liability insurance reaches its limits. For example, suppose a customer slips and gets injured in your store. Then he claims 200,000 US dollars from your company. If your general liability insurance is capped at $150,000, commercial umbrella insurance will help cover the remaining $50,000. The company believes that this type of coverage is essential to help prevent economic downturn litigation and claims. .

Commercial flood insurance helps protect your business from the cost of covered flood losses. This includes damage to the physical location of your business and its assets. For example, suppose that melting snow flooded the basement of your company. Flooding will damage the floor and some tools. If this happens, commercial flooding can help pay for repairs to damaged floors and tools.

If an employee sues you, Employment Practice Liability (EPL) can help protect your business. Even if you are not at fault, defending a lawsuit can be costly. Employees may file claims against your business for discrimination, harassment, or improper dismissal. If they do, EPL can help pay for related expenses.

The Hartford's risk engineering services help large and medium-sized companies with loss control solutions designed to create a safer working environment. Risk engineering professionals assess your company’s risk exposure, and then develop improvement plans and plans to train you and your employees to handle accidents safely and comply with safety protocols. This can lead to a safer, more efficient and more profitable business.

If your business does business outside the United States, cross-border insurance can help simplify coverage. This coverage from The Hartford creates a single point of contact for all your commercial insurance needs. Our cross-border insurance policy covers more than 150 countries.

Guaranteed and fidelity bonds-A guaranteed bond is a contract between three parties that helps to ensure that the project is completed or the promise is fulfilled, and guarantees that payment is not completed. Fidelity bonds are a form of insurance that protects companies from financial losses caused by employee theft or fraud.

Family-based commercial insurance helps cover the cost of property and liability risks of businesses operating outside the owner’s home. If you keep supplies, equipment, or other commercial property at home, or have customers patronize, consider adding this insurance.