What Is Commercial Insurance and Do I Need It?

by owner

Category: Our Blog

When you hear the term ‘Commercial Insurance,’ what do you
imagine? Well, be assured that it’s not meant to insure the breaks between
regularly scheduled television. Stated simply, commercial insurance is just a
fancy term for business insurance.

What you may not know, is that there are many different
types of commercial
insurance policies
. Connecticut business owners are encouraged to know all
the available types of commercial insurance, some of which are explained here:

  • General Liability: covers
    a great deal, including protection of property due to fire and theft,
    bodily injury claims, claims of property damage, and more.
  • Commercial Property:
    similar in aspects to General liability, this covers a business in case of
    fire and electrical surge, and in some cases embezzlement by employees,
    and depending on the policy, it will also cover other things.
  • Commercial Auto: Just as
    you purchase personal auto insurance, anyone that drives for work will
    need their car to have a commercial insurance policy. Connecticut, and
    many other states, require this.
  • Workers Compensation: In
    case of an accident happening on the job, workers compensation will cover
    the medical expenses of the injured employees, or in more serious matters,
    workers compensation will provide a death benefit to the worker’s family.
  • Commercial Flood: Standard
    commercial flood insurance policies cover damage from floods. Be wary that
    the building coverage and property coverage must be applied for separately.

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