Covered And Non-Covered Aspects Of a Commercial Insurance Policy

A commercial insurance policy is a necessity for every business organization. This means that it is vital to know what it does and does not cover. By contacting Silverton Insurance Specialist, LLC, we can help you learn more about the covered aspects of your commercial insurance policy.

There are some risks associated with running and managing a business, but business liability coverage prevents many unknown and known risks. Commercial insurance protects you, your employees, and your company from claims pertaining to property damage and bodily injury within the limits of the policy obtained. Policies safeguard you from judgments by a court, litigation, and out-of-court expense settlements.

Lawsuits, settlements, and investigations

When charged and sued in court, commercial insurance covers the cost of agreements, hiring an attorney, examination, and medical fees in case of injury.

Injury Damages

Claims may originate from property damages or bodily injury from your products, the advertisement for your business, your operations, or from accidents that occurred in your premises, and all these can all be covered under the commercial insurance policy.

Other Coverage

A commercial insurance policy can cover things you may never have thought about, for example, an unknown violation of another organization in an advertisement. This insurance may even provide some shield against accidents that result from alcohol consumption. However, this is only effective if your company does not deal with alcohol such as distribution or manufacturing.

There are some aspects of business risks that are not protected by a commercial insurance policy such as:

Workers Injuries

The insurance you will require to protect your employees when they are injured or hurt on the job is called workers’ compensation. This aspect is therefore not part of the commercial insurance policy.

Professional mistakes

The commercial insurance policy won’t cover professional errors; professional liability will. It ensures against misfortunes that may arise as you render your recommendation, services, solution, or opinion in the course of business.

In Conclusion

To find out what commercial insurance coverage can do for your business, contact Silverton Insurance Specialist, LLC.