Commercial Insurance
What Does Commercial Insurance Mean?
Commercial insurance refers to a policy designed to protect a business from future risks. Coverage may include business property damage, loss of income due to business interruptions, legal issues, theft, and employee grievances.
Insuranceopedia Explains Commercial Insurance
When choosing a commercial or business insurance policy, key considerations will always center on the potential for business interruptions that could result in loss of income or even the closure of the business. It is prudent to anticipate future risks commonly associated with the business and select a policy that covers those risks. For example, an apartment building owner who leases to tenants can protect themselves by purchasing property and liability insurance, which would provide coverage in case of fire that damages the property or causes physical harm to tenants.
