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Commercial Insurance or Business Insurance

Get quote on Commercial Insurance or Business Insurance coverage that protects from losses that may occur during the normal course of business in Cleveland, Ohio.

 

We offer a range of policy and coverage options for a variety of Commercial Insurance or Business Insurance types. Call Washington and Co Insurance Agency, Cleveland, Ohio, 216-691-9227 for quote.

TYPES OF COMMERCIAL INSURANCE OR BUSINESS INSURANCE:

The most common types of commercial insurance are commercial property,commercial general  liability and workers' compensation. In general, commercial property insurance covers damages to your business commercial property; commercial liability insurance covers damages to third parties; and workers' compensation insurance covers on-the-job injuries to your employees. Depending on your business, you may want additional specialized commercial insurance coverages. Listed below are some of the different types of commercial business insurance.

COMMERCIAL or BUSINESS PROPERTY INSURANCE

Property insurance pays for losses and damages to real or personal property. For example, a property insurance policy would cover fire damage to your office space. You can purchase additional coverages for business property, including:

Boiler and Machinery Commercial or Business Insurance

Boiler and machinery commercial insurance, sometimes referred to as "equipment breakdown" or "mechanical breakdown coverage," provides commercial insurance coverage for the accidental breakdown of boilers, machinery, and equipment. This type of commercial insurance coverage usually will reimburse you for commercial property damage and business interruption losses. For example, this coverage would cover fire damage to computers.

Commercial or Business Builder's Risk Insurance

Commercial Builder's risk insurance covers commercial buildings while they are being constructed. For example, a Commercial Builder's risk policy would cover losses if a windstorm takes down your partially constructed condominium complex.

Commercial or Business Inland Marine Insurance

Commercial Inland marine insurance covers property in transit and other people's property on your premises. For example, this commercial insurance would cover fire-damage to customers' clothing from a fire at your dry cleaning business.

Commercial or Business Interruption Insurance

Business interruption insurance covers lost income and expenses resulting from property damage or loss. For example, if a fire forces you to close your doors for two months, this business insurance would reimburse you for salaries, taxes, rents, and net profits that would have been earned during the two-month period.

Commercial or Business Interruption Insurance

Business interruption insurance covers lost income and expenses resulting from property damage or loss. For example, if a fire forces you to close your doors for two months, this insurance would reimburse you for salaries, taxes, rents, and net profits that would have been earned during the two-month period.

Commercial or Business Interruption Insurance

Business interruption insurance covers lost income and expenses resulting from property damage or loss. For example, if a fire forces you to close your doors for two months, this insurance would reimburse you for salaries, taxes, rents, and net profits that would have been earned during the two-month period.

Commercial or Business Ordinance or Law Insurance

Commercial Ordinance or law insurance covers the costs associated with having to demolish and rebuild to code when your building has been partially destroyed (usually 50 percent). For example, your three-story building is 100 years old. A flood destroys the basement and first two stories. Because more than 50 percent of your building has to be rebuilt, a local ordinance requires that the building be completely demolished and rebuilt according to current building codes. Commercial Property insurance covers only the replacement value, not the upgrade.

Commercial or Business Tenant's Insurance

Commercial leases often require tenants to carry a certain amount of insurance. A renter's commercial policy covers damages to improvements you make to your rental space and damages to the building caused by the negligence of your employees.

Commercial or Business Crime Insurance

Crime insurance covers theft, burglary, and robbery of money, securities, stock, and fixtures from employees and outsiders.

Commercial or Business Fidelity Bonds Insurance

A bond company covers losses due to a bonded employee's theft of business property and money.

 

COMMERCIAL OR BUSINESS LIABILITY INSURANCE

 

Commercial or Business Liability insurance covers injuries that you cause to third parties. If someone sues you for personal injuries or property damage, the cost of defending and resolving the suit would be covered by your Commercial or Business liability insurance policy. A Commercial or Business general liability policy will cover you for common risks, including customer injuries on your premises. More specialized varieties of Commercial or Business liability insurance include:

Commercial or Business Errors and Omissions Insurance

Errors and omissions ("E & O") insurance covers inadvertent mistakes or failures that cause injury to a third party. The act must actually be an inadvertent error, and not merely poor judgment or intentional acts. For example, an E & O policy would cover damages arising from an insurance agent failing to file policy applications, or a notary forgetting to fill out notarizations properly.

Commercial or Business Malpractice Insurance

Commercial or Business Malpractice insurance, or professional liability insurance, pays for losses resulting from injuries to third parties when a professional's conduct falls below the profession's standard of care. For example, if a doctor makes a mistake that other doctors of his specialty would not have made, his patient might sue him. A malpractice policy will pay his defense costs and any judgment or settlement. Malpractice insurance is available for doctors, dentists, accountants, real estate agents, architects, and other professionals.

Commercial or Business Automobile Insurance

Commercial or Business automobile policies cover the cars, vans, trucks and trailers used in your Commercial or business. The coverage will reimburse you if your vehicles are damaged or stolen or if the driver injures a person or property.

Directors' and Officers' Commercial or Business Liability Insurance

This type of Commercial or Business insurance is generally purchased by corporations and nonprofit organizations to cover the costs of lawsuits against directors and officers.

COMMERCIAL OR BUSINESS WORKERS' COMPENSATION INSURANCE

Commercial or Business Workers' compensation insurance covers you for an employee's on-the-job injuries. A Commercial Business with employees are required by various state laws to carry some type of workers' compensation insurance. In most cases, workers' compensation laws prohibit the employee from bringing a negligence lawsuit against an employer for work-related injuries.

 

Call Washington and Co Insurance Agency, Cleveland, Ohio,             216-691-9227      , for quote on Commercial Insurance and Business Insurance in Ohio.