What Business Insurance Really Covers

Business insurance can help cover a range of risks, but it only works as intended when you understand what is included and what is excluded. Misreading or overlooking policy details may leave your business exposed to costly losses. Cadenas Insurance Agency can help you understand your policy and choose options that match your needs.

What Does Business Insurance Cover?

Standard business insurance can be customized, but most policies typically include the following:

• Property insurance may cover your building, equipment, inventory and furnishings for covered events such as fire, theft or certain types of weather damage.
• General liability insurance may help with costs if your business is held responsible for third-party injuries or property damage, such as a customer slipping and falling on your premises.
• Business interruption insurance may compensate for lost income and operating expenses if your business is forced to close temporarily due to a covered loss.
• Professional liability insurance (errors and omissions) may offer coverage for claims of negligence or mistakes in the professional services you provide.
• Workers’ compensation insurance is required for most businesses with employees. It may help with medical expenses and a portion of lost wages if an employee is injured on the job.

What Do Standard Policies Exclude?

Depending on your operations, your business may require specialized coverage for the following risks:

• Flood and earthquake damage: These events can require separate coverage.
• Intentional acts: Losses from fraudulent acts by your employees may be covered by commercial crime insurance.
• Certain cyber risks: Cyber liability may not be included unless it is specifically added to the policy.
• Wear and tear: Routine maintenance and gradual deterioration are generally not covered, but coverage for equipment breakdowns may be available.
• Professional errors: Mistakes or negligence in professional services can require separate professional liability coverage.

Cadenas Insurance Agency Supports Georgia Business

Contact us today to review your coverage and learn more about your options.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.