Insurance provides the peace of mind business owners need. It protects assets, including inventory, buildings, and vehicles. However, business owners often require several different types of insurance. Most need commercial insurance, but what does it cover?
Common Coverage
Commercial insurance typically covers business interruption, property damage, theft, and worker injuries, and some policies cover damages from natural disasters. However, the rules regarding company cars are different. Although these are considered property, they aren’t always covered.
Company Car Coverage
Many commercial insurance companies categorize company cars separately from "company property". Instead, business owners in Sellersburg, IN need commercial auto insurance. Commercial auto insurance covers vehicle damage, with some policies covering vandalism or theft. It can also cover damage if someone is in an accident.
Commercial Auto Insurance
Commercial auto insurance is often legally required for businesses with company vehicles. State laws mandating insurance typically require auto insurance for businesses, and company owners must keep their cars insured. Most commercial auto policies offer different types of insurance, such as personal auto policies. Comprehensive coverage covers damage to the vehicle not caused by an accident, such as theft. However, liability auto insurance is another option for business owners.
Speak With An Insurance Professional in Indiana
It’s important to note that every insurance company is different. Some commercial policies cover vehicles parked in the parking lot and not being driven when the damage occurs. They may also cover flood damage, vandalism, or other items listed in your commercial policy. Speak with a professional at CXE Insurance to determine what type of insurance your business needs. We currently serve the Sellersburg, IN, area.