Commercial auto insurance is liability and physical damage protection for vehicles, such as cars, trucks and vans, that are used for business. Commercial vehicles require a separate policy because they’re typically exposed to more risk than personal vehicles.
Commercial auto insurance isn’t just for industrial vehicles like semis or dump trucks. For example, businesses that use a car to run errands, carry tools or transport clients might also need a commercial auto policy.
Workers’ compensation insurance, commonly known as workers’ comp, is insurance that covers medical expenses and a portion of lost wages for employees who become injured or ill on the job. Coverage also includes employee rehabilitation and death benefits.
Commercial property insurance plans vary from policy to policy. Basic property insurance usually covers losses caused by fire, lightning, wind and hail, or acts of vandalism. Additional coverage can be added for earthquakes and breakage of glass.
The essential items to insure in a business property insurance plan include your building, office equipment, inventory and outdoor items on the premises such as fencing, storage sheds, or outdoor signs.
General liability insurance (GL), often referred to as business liability insurance, is coverage that can protect you from a variety of claims including bodily injury, property damage, personal injury and others that can arise from your business operations.