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February 15, 2020

Understanding Commercial Insurance


Contact: Amanda Edmunds

I & E Insurance Agency


[email protected]


What is Commercial Insurance?

Commercial insurance protects businesses, their owners, and their employees from any unforeseen circumstances that may affect the business. Commercial business insurance protects against accidents, property damage, professional errors, workers’ compensation claims, and more.

Types of Commercial Insurance

The three main types of commercial insurance include property insurance, worker’s compensation, and commercial general liability insurance.

  • Property insurance covers losses and damage to real and personal business property. This includes damage to your office space and everything inside and out of it in the event of a fire, explosion, pipe burst, or storm. This also includes damage due to theft or vandalism.
  • Workers’ compensation protects you and your employees. It pays for medical costs and lost wages of employees who are injured or become ill on the job. Each state has its own set of compulsory rules businesses must follow regarding workers’ compensation.
  • General liability insurance protects your business against bodily injury, property damage, completed operations and advertising injuries that may occur as the result of your business.

Aside from those main three, there are several other types of commercial insurance including:

  • Commercial auto insurance
  • Professional liability
  • Business owners policy (BOP)
  • Cyber liability insurance
  • Business interruption insurance
  • Disability insurance
  • Life insurance
  • Errors and omissions insurance

What Does Commercial Insurance Cover?

Because there are so many coverage options under commercial insurance, it’s easier to discuss what commercial insurance doesn’t cover. Standard commercial policies don’t cover losses from natural disasters like floods or any other major weather events. It also does not apply to customer property that is stored in your business. Intentional and fraudulent acts are not covered and a standard general liability policy also does not cover auto accidents.

Understanding Commercial Insurance

Looking for a commercial insurance policy? The team at I & E Insurance can provide you with information regarding commercial insurance policies based on your needs and budget!

This web site may contain concepts that have legal, accounting and tax implications. It is not intended to provide legal, accounting or tax advice.

You may wish to consult a competent attorney, tax advisor, accountant, or your own financial advisor. EMC Insurance Agency & Financial Services LLC dba I & E Insurance Agency & Financial Services is an Independent Insurance Agency, a Member of the Trusted Choice, Independent Agents of America & PIA contact your own advisors before making any financial decision. Services offered through independent NON-AFFILIATED ENTITIES

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