Commercial Lines Insurance helps keep the economy running smoothly by protecting
businesses from potential losses they couldn't afford to cover on their own, which allows
businesses to operate when it might otherwise be too risky to do so.
Insurance that protects businesses against losses as a result of such things as damage to
property and injuries to employees.
Commercial Lines Insurance includes a variety of products:
Commercial lines protect businesses against potentially devastating financial losses caused by accidents, lawsuits, natural disasters and other adverse events. Coverage available and premium costs vary by business type, size, and location.
While all commercial lines share some similarities, each policy will be tailored for the type of
business being covered and the client's unique needs.
Commercial lines aren't just for large corporations. Even a small, home-based business
might need one or more commercial lines because homeowners insurance provides
limited or no insurance for business activities.
For example, a home business might need commercial auto insurance for a
company-owned delivery vehicle, workers compensation insurance for the employee who
drives the vehicle, property insurance to cover business goods stolen from the home or
vehicle, and liability insurance to protect against claims by any client who claims they were
harmed by the business's product.
Your business faces liabilities every day. The only way to protect your assets is to carry
adequate business liability insurance. A Commercial General Liability (CGL) insurance
policy is the first line of defense against many common claims.
General Liability insurance covers claims of bodily injury or other physical injury or property
damage. It is frequently offered in a package with Property insurance to protect your
business against incidents that may occur on your premises or at other covered locations
where you normally conduct business. Commercial General Liability enables your business
to continue operations while it faces real or fraudulent claims of certain types of negligence
or wrongdoing.
Commercial General Liability - The Most Basic Form of Business Insurance If you have only
one form of business insurance, it is most likely Commercial General Liability. CGL policies
cover claims in four basic categories of business liability:
In addition to covering the claims listed above, Commercial General Liability policies also cover the cost to defend or settle claims - even if the claims are fraudulent. Commercial General Liability only protects against some business liabilities.
Business Liability insurance protects your business against financial loss resulting from claims of injury or damage caused to others by you or your employees. (Some coverage may not be available on all policies or in all states.)
Note: This summary outlines in general terms the coverages afforded under some policies. Examine the policy carefully for any exclusions, limitations, or any other terms or conditions that may specifically affect coverage. The terms and conditions of the policy prevail.
To see how our commercial insurance policies can help your business be secure, please contact us for a free quote. Koch Insurance agencies are located throughout South Dakota, with office locations in Tea, Tyndall, Tabor, Springfield, and Yankton. We'll provide you with all the information you need to make an informed decision on keeping your business safe.