Business Insurance, or Commercial Insurance, covers a wide variety of products. Businesses that operate in Texas most likely carry some form of Liability, Workers’ Compensation, Auto insurance, as well as Property insurance for their location and business property. Other types of commercial coverage might include an Errors and Omissions policy, or Directors and Officers policy; and many industries have specific policies they must explore like malpractice insurance for doctors or dentists.
There are some exclusions to policies including exclusions due to virus, pandemics there are triggers that often extend coverage including physical damage. Fires, riots, vandalism are all examples of risks that are covered under most standard insurance policies. Here is a breakdown:
- Auto – the optional Comprehensive Coverage of an auto policy covers your vehicle for damage for several different risks including vandalism, riot, hail, flood and falling objects.
- Business Policy – damage to your Structure and/or your Contents caused by fire, wind, riots, civil commotion, theft, or vandalism is covered under a Business Owners Policy. The standard business policy also covers financial losses that occur when that business can no longer conduct operations due to direct physical loss of or damage to its property by these same losses previously mentioned. Ask your insurance company or agent about coverage during “civil authority” orders that restrict access to property because of damage to nearby property or when first responders prohibit access to an area as a result of the danger caused by a riot or civil commotion.
Contact your agent or insurance company to determine your coverages to help you understand how you are covered, what is your deductible - and any limits.