Understanding Commercial Insurance Coverage: Protecting Your Business

Commercial insurance coverage is frequently bought in a package policy labeled the BOP or business owner’s policy, as opposed to purchasing separate coverage. This is the kind of policy that small and medium-size business owners usually buy. This standard policy provides more protection as it covers two areas: property coverage including buildings and contents that the company owns and liability.

Special Commercial Insurance

The special commercial insurance coverage, which is more comprehensive, provides the most protection in one policy. One of the main options in a special commercial insurance policy is interruption insurance. This kind of insurance covers loss of income due to a catastrophe that interrupts the businesses’ operations such as a fire.

Bigger Companies

For bigger companies, especially corporations, the commercial insurance coverage that offers more protection is the multiple perils policy. It meets the particular risks they may incur.

Features of Multiple Peril Policies

• General liability
• Property
• Crime
• Boiler and machinery