Business & Commercial Insurance
Overview
Business insurance is designed to protect companies from the many risks that could disrupt operations, damage assets, or threaten financial stability. Since every business faces unique exposures depending on its size, industry, and operations, coverage can be customized to fit specific needs. At its core, business insurance helps transfer the financial burden of losses—such as property damage, lawsuits, cyberattacks, theft, or natural disasters—from the business to the insurer, allowing owners to recover and keep operations moving forward.
Key coverages include general liability insurance to protect against claims of bodily injury or property damage, and commercial property insurance to safeguard buildings, equipment, and inventory. Many businesses also carry business interruption insurance, which replaces lost income and covers expenses if operations are forced to pause due to a covered event. Workers’ compensation insurance, required in most places, covers employee injuries and protects employers from related liability. Other important policies include commercial auto insurance for business vehicles, cyber liability insurance for digital threats, and professional liability insurance for service-based industries. Small and midsize businesses often bundle these into a Business Owners Policy (BOP) for efficiency and cost savings.
Additional specialized coverages—like product liability, employment practices liability (EPLI), or directors and officers (D&O) insurance—can be tailored for specific industries and risks. While costs vary based on factors like revenue, location, and claims history, business insurance is ultimately an investment in stability and credibility. With the right coverage in place, companies can withstand setbacks, protect employees and assets, and build long-term resilience. Without it, even a single event could be financially devastating.
General Liability Insurance
General Liability Insurance is a foundational safeguard for any business, protecting against common risks like customer injuries, accidental property damage, or claims of libel and slander. Often required for leases, contracts, and licenses, it’s typically the first policy a business purchases—and for good reason. Whether you run a small shop, a service-based business, or a large operation, this coverage helps shield your finances and reputation so you can focus on growth with confidence.
What's Covered
Bodily Injury
Personal and Advertising Injury
Property Damage
Covers medical expenses, legal costs, and potential settlements or judgments if someone (such as a customer or vendor) is injured on your business premises or as a result of your operations. For example, if a customer slips and falls in your store, general liability insurance would cover the related expenses
Property Damage
Personal and Advertising Injury
Property Damage
Pays for damage your business causes to someone else's property. This might include accidentally breaking a client's window while working on their property or damaging a rented office space.
Personal and Advertising Injury
Personal and Advertising Injury
Personal and Advertising Injury
Covers non-physical injuries such as libel, slander, copyright infringement, or wrongful eviction that your business may unintentionally cause. For example, if your business uses a competitor’s slogan or image in an advertisement without permission, this coverage could help pay for legal defense and any settlements.
Medical Payments
Legal Defense and Court Cost
Personal and Advertising Injury
Provides limited, no-fault coverage for immediate medical expenses if someone is injured on your business premises, regardless of fault. This coverage can help resolve minor incidents quickly and without litigation.
Legal Defense and Court Cost
Legal Defense and Court Cost
Legal Defense and Court Cost
Covers the cost of defending your business in court, including attorney fees, court expenses, and settlements or judgments, whether or not your business is found liable.
Examples of coverage in action
A client trips over a cable in your office and fractures their ankle.
In this scenario, general liability insurance would step in to cover the costs associated with the client’s injury. That typically includes:
- Medical expenses for treatment of the fractured ankle
- Legal defense costs if the client files a lawsuit
- Settlements or judgments if you’re found legally responsible
An employee accidentally knocks over and breaks a customer’s laptop while on a job site.
In this situation, general liability insurance would typically cover the cost to repair or replace the customer’s laptop. This type of policy includes property damage liability, which protects your business if an employee accidentally damages a client’s belongings while performing work. It could also cover legal fees if the customer were to sue over the incident, saving your business from paying out of pocket.
A competitor sues your business for allegedly using their marketing slogan in your advertisement.
In this situation, general liability insurance would respond through its advertising or personal injury coverage. It would typically cover:
- Legal defense costs if the competitor sues
- Settlements or judgments if your business is found liable
- Associated court fees or related expenses
Commercial Property Insurance
Commercial Property Insurance is a type of business insurance that covers physical assets owned or leased by a company. It provides protection against loss or damage caused by events such as fire, theft, vandalism, and certain weather-related incidents. This coverage is essential for businesses that rely on buildings, equipment, inventory, or other physical property to operate.
Commercial Property Insurance can be customized for nearly any industry, from retail shops and restaurants to manufacturing facilities and office buildings. A detailed risk assessment by a licensed insurance agent helps ensure proper coverage limits and that all valuable assets are protected.
What's Covered
Building Coverage
Tenant Improvements and Betterments
Business Personal Property (BPP)
Covers the physical structure of your business property, including walls, roof, floors, and permanently installed fixtures like HVAC systems or built-in shelving.
Business Personal Property (BPP)
Tenant Improvements and Betterments
Business Personal Property (BPP)
Covers movable items and contents within the building such as furniture, office equipment, computers, tools, and inventory.
Tenant Improvements and Betterments
Tenant Improvements and Betterments
Tenant Improvements and Betterments
Covers upgrades or customizations a tenant makes to a rented space, such as installed partitions, flooring, or lighting
Equipment and Machinery
Equipment and Machinery
Tenant Improvements and Betterments
Covers business-critical machinery or production equipment against damage from covered perils
Inventory Coverage
Equipment and Machinery
Inventory Coverage
Protects raw materials, finished goods, and products for sale from loss or damage.
Outdoor Property
Equipment and Machinery
Inventory Coverage
May include coverage for signage, landscaping, fences, and satellite dishes. This coverage often has sub-limits.
Business Income / Interruption Insurance
Business Income / Interruption Insurance
Business Income / Interruption Insurance
Compensates for lost income and ongoing expenses (like rent and payroll) when a covered loss forces the business to shut down temporarily.
Debris Removal
Business Income / Interruption Insurance
Business Income / Interruption Insurance
Pays for the cost to remove debris after a covered loss, such as a fire or windstorm.
Spoilage Coverage
Business Income / Interruption Insurance
Ordinance or Law Coverage
Protects against loss of perishable goods due to equipment failure or power outage.
Ordinance or Law Coverage
Ordinance or Law Coverage
Ordinance or Law Coverage
Pays for increased costs of rebuilding or repairing property to comply with current building codes or laws, especially after a partial loss
Examples of coverage in action
A fire breaks out in your building, damaging walls, equipment, and inventory
In this scenario, CPP insurance covers the cost to repair or rebuild the building, replace damaged equipment, and restore lost inventory, helping your business recover financially.
A hailstorm or windstorm damages your roof and floods part of your office
In this situation, CPP insurance pays for repairs to the structure, replacement of damaged property, and may cover cleanup costs, ensuring your business can resume operations quickly
A break-in results in stolen computers, tools, or machinery.
In this situation, CPP insurance would reimburses the cost of stolen items and may cover repairs to the property if vandalized, reducing financial strain and downtime.
Workers’ Compensation Insurance
Workers’ Compensation Insurance is essential for protecting both your employees and your business. It provides coverage for medical expenses, rehabilitation costs, and lost wages if an employee is injured or becomes ill while performing work-related duties. In addition, it protects your business from legal liability if an injured worker files a claim or lawsuit. Required in most jurisdictions, workers’ comp insurance ensures your team is supported and your business is compliant.
What's Covered
Medical Expenses
Medical Expenses
Medical Expenses
Covers costs for treating work-related injuries or illnesses, including hospital visits, medications, and rehabilitation services.
Lost Wages
Medical Expenses
Medical Expenses
Provides partial wage replacement if an employee is unable to work due to a covered injury or illness.
Employer Liability
Rehabilitation Services
Rehabilitation Services
Protects your business if an employee sues for work-related injuries or occupational illnesses, covering legal fees, settlements, or judgments.
Rehabilitation Services
Rehabilitation Services
Rehabilitation Services
Includes physical therapy, vocational rehabilitation, or other treatments needed to help an injured employee return to work.
Examples of coverage in action
An employee slips on a wet floor and breaks their wris
Workers’ compensation insurance would cover:
- Medical expenses for treatment of the broken wrist
- Partial wage replacement while the employee recovers
- Rehabilitation costs if therapy is required
A delivery driver develops carpal tunnel from repetitive tasks
Coverage may include:
- Medical treatment and specialist visits
- Wage replacement during recovery
- Vocational rehabilitation if modified duties are needed
A factory worker sustains a back injury while lifting heavy equipment
Workers’ comp insurance responds by covering:
- Immediate and ongoing medical care
- Lost income while the employee cannot work
- Legal defense costs if a claim is disputed
Rental property insurance
Rental property insurance—also known as landlord insurance—is designed specifically for property owners who rent out homes, condos, or apartments to tenants. Whether you’re a first-time landlord with a single unit or a seasoned investor with multiple properties, this coverage offers peace of mind by protecting your investment, your income, and your liability
What's Covered
Dwelling Coverage
Other Structures Coverage
Other Structures Coverage
This protects the structure of your rental home—including the roof, walls, floors, and built-in appliances—from damage caused by covered events like fire, wind, hail, lightning, or vandalism. It ensures you can repair or rebuild the property if it’s damaged, without draining your personal finances.
Other Structures Coverage
Other Structures Coverage
Other Structures Coverage
Extends to detached structures on your rental property, such as garages, fences, storage sheds, or guest houses. If a storm damages a backyard fence or outbuilding, this coverage helps pay for repairs.
Liability Coverage
Other Structures Coverage
Loss of Rental Income
Rental property insurance protects landlords by covering the building, liability for injuries, and sometimes lost rental income if the property is damaged.
Loss of Rental Income
Medical Payments to Others
Loss of Rental Income
If your property becomes uninhabitable due to a covered loss—such as a fire or major storm—this coverage helps replace the rental income you would have earned while repairs are being made. It helps keep your cash flow steady during difficult times.
Other Structures Coverage
Medical Payments to Others
Medical Payments to Others
Extends to detached structures on your rental property, such as garages, fences, storage sheds, or guest houses. If a storm damages a backyard fence or outbuilding, this coverage helps pay for repairs.
Medical Payments to Others
Medical Payments to Others
Medical Payments to Others
Covers minor medical expenses if someone is injured on your rental property, regardless of fault. It’s designed to help resolve small accidents quickly and avoid costly legal battles
Examples of coverage in action
Fire
If a fire damages the rental unit, the insurance will pay to repair or rebuild the structure.
Tenant injury
If a tenant slips on a wet floor and sues, the liability portion of the policy could cover medical costs and legal fees.
Storm damage
If a windstorm breaks windows and damages the roof, the policy will cover repairs to restore the property.
Commercial Auto Insurance
Commercial Auto Insurance protects the vehicles your business depends on and the people who drive them. Whether you operate a fleet or a single company car, this coverage ensures you’re protected from financial losses due to accidents, injuries, or damage. Most states require businesses to carry commercial auto insurance, keeping your operations compliant and your team secure on the road.
What's Covered
Comprehensive Coverage
Comprehensive Coverage
Comprehensive Coverage
Protects against non-collision events like theft, vandalism, fire, or weather damage
Collision Coverage
Comprehensive Coverage
Comprehensive Coverage
Covers repair or replacement costs for your vehicle if it’s damaged in a collision, regardless of fault.
Liability Coverage
Medical Payments Coverage
Medical Payments Coverage
Pays for bodily injury and property damage to others if your business vehicle is at fault in an accident.
Medical Payments Coverage
Medical Payments Coverage
Medical Payments Coverage
Helps cover medical expenses for drivers and passengers injured in a company vehicle.
Examples of coverage in action
A company delivery van rear-ends another vehicle
Commercial auto insurance would cover:
- Property damage liability for repairs to the other vehicle
- Bodily injury liability for injuries to the other driver
- Collision coverage for your company van repair
A work truck is stolen from a job site
Coverage may include:
- Comprehensive coverage for the stolen truck
- Rental reimbursement for a temporary replacement vehicle
- Replacement cost coverage if the truck cannot be recovered
An employee is injured while driving a company vehicle
Commercial auto insurance responds by covering:
- Medical payments for immediate treatment
- Lost wages if recovery keeps them from work
- Liability coverage if another party is injured in the accident
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