Commercial Business Liability Insurance
When damage to your commercial property occurs, the priority of your insurer should be to restore operations as quickly as possible. Financial loss may occur even with commercial property insurance due to income lost during shutdowns due to insured losses; commercial property insurance is often combined with business interruption coverage to offset lost income.
Commercial property insurance covers more than just your physical building. It also covers:
- Equipment
- Stock
- Tenants improvements
- Boiler and machinery
What Is Commercial General Liability (CGL) it's a type of insurance policy that provides coverage to a business for bodily injury, personal injury, and property damage caused by the business's operations, products, or injuries that occur on the business's premises to third party.
Commercial general liability coverage is required by most businesses to protect them from financial loss stemming from negligence. It protects a company from some of the most common lawsuits related to normal business activities.
In order to cover your property ie equipment or theft you will need a separate property policy or an add on to your CGL policy.
Commercial property insurance protects your company's physical assets from fire, explosions, burst pipes, storms, theft and vandalism. Earthquakes and floods typically aren't covered by commercial property insurance, unless those perils are added to the policy.
As an insurance brokers I will work with you to assess the risks associated with your commercial property and establish the best policy coverage for your business.
Contact me, Insurance Broker M.K. today to get a free quote for your CGL insurance need or click the link below to request a quote.