Commercial Property Insurance (Back to Top)

This coverage protects your company's building(s) and business contents at a designated premises. Coverage can include loss to inventory, equipment, business records, fixtures and other company owned items.

There are two main options of coverage: 'Replacement cost' which provides coverage on a full replacement cost basis without deduction for depreciation. An 'actual cash value' or ACV policy is the replacement cost of damaged property with deduction for depreciation. Recovery loss for both options is subject to various policy conditions such as coinsurance requirements and the limit of coverage purchased.

Commercial General Liability (Back to Top)

This policy provides payment in the event of a "liability" loss that causes injury or property damage. It protects your business against liabilities that arise from your daily operations, the products you sell, or the services you render.

There are five main divisions of coverage on a standard comprehensive general liability policy:

• Premises & operations
• Personal & advertising injury
• Products & completed operations
• Fire damage liability (fire damage to premises you rent from others)
• Medical payments

Protection is based on 'occurrence' and 'aggregate' limits of coverage. It is recommended that your aggregate limit is at least twice the occurrence limit.

Business Auto (Back to Top)

The Business Auto Policy is designed to protect your business in the event of accident, theft, injury and other damages involving your vehicles and your employees while driving those insured company vehicles.

Common policy coverages include:

• Liability (bodily injury and/or property damage) from the maintenance, ownership and/or use of owned autos.
• Uninsured motorist protects you and passengers for bodily injury resulting from an accident in the event the other driver is negligent and does not carry insurance.
• Underinsured motorist protects you and passengers when the 'at fault' driver carries lesser limits of liability than you do.
• Comprehensive pays for damages to or loss of your auto for events other than collision. Losses such as flood, theft, vandalism and hail are covered under this peril. A deductible will likely apply.
• Collision pays for damages to or loss of your auto resulting from a direct and accidental loss by collision with another vehicle or object. A deductible will apply. Exception: A collision with an animal is normally considered a comprehensive loss.
• Hired autos covers liability for the use of hired autos in your business.
• Non-owned autos protects you against liability arising from the use of non-owned autos for your business. A common example would be an employee using their own auto on a company errand.
  

Workers' Compensation (Back to Top)

Workers' Compensation provides protection for accidental injuries and/or diseases resulting directly from their employment. The benefits provided can be separated into the following general categories:

• Loss wages
• Disability income
• Permanent/partial disability
• Rehabilitation
• Death

Employer requirements for workers' compensation can vary from state to state.

Business Income (Back to Top)

This policy, also known as Business Interruption, is designed to help cover potential losses resulting from an interruption of normal business. Businesses income lost due to an insured peril, often exceeds in cost the damages to your real and personal property. Extra expenses incurred because of interruption are also insured.

Commercial Umbrella Liability (Back to Top)

This policy will protect your business from potential "catastrophic" losses. The umbrella policy picks up payment when your underlying coverage limits are exhausted. It also provides coverage of many liability exposures, regardless of their exclusions in other policies, unless excluded in the umbrella.

Equipment Breakdown (Back to Top)

Coverage pays for financial loss incurred when equipment breaks down due to a sudden and accidental occurrence. Hazards such as motor burnout, mechanical breakdown, power surges and short circuits are excluded under a commercial property policy but are included in equipment breakdown coverage.

The coverage can be designed to cover your business for loss of business income and extra expense resulting from a breakdown.

Other types of Commercial Insurance coverage available at
Willis Insurance (Back to Top)

Builder's Risk | Professional Liability | Bonds | Inland Marine
Contractor's Liability | Garage Liability | Directors & Officers Liability
Public Entity | Not For Profits

Information provided by Insurance Information Institute.

Commercial Property | Commercial General Liability | Business Auto | Workers' Compensation
Business Income | Commercial Umbrella Liability | Equipment Breakdown | Other Commercial
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