Discover the Difference between General Liability and Commercial Property Insurance

August 20, 2020 Blog

Useful Information from The Business Insurance Center

Businesses need insurance. It helps to protect against claims that can financially devastate a company. Yet, deciding on what type of coverage will give you the protection you need can be confusing. Should you buy general liability? What about business interruption? What do I need if I have a fleet of trucks? The options are almost endless, but you can make a guided decision.

Get the help you need from a team that cares about your success. Talk to the knowledgeable brokers at The Business Insurance Center about commercial property insurance and other types that can safeguard your enterprise. We are happy to help disseminate all the information so that you can make an informed decision.

Breakdown of General Liability vs. Commercial Property

When you compare different types of insurance coverage, liability steps in for those times when there is bodily injury resulting from your business. Commercial property is for those times when something happens against your business assets. Here is a breakdown with examples:

  1. General Liability: When something happens that your company is legally responsible for, it is called a liability. If someone suffers a loss, you must make up for the loss. Most often, these are claims of bodily injury, third-party property damages, or harm to someone’s reputation. Additional liabilities include professional mistakes and oversights, as well as unfair hiring practices.
  2. Commercial Property: As you set up your shop, you may buy, rent, or lease office space for storing your equipment. You may have tools, computers, office furniture, and inventory on your premises. When damage occurs, it can be devastating. Common events include fire, theft, vandalism, and some weather events. You need adequate coverage to recover your losses.

Protect Your Business Assets with Commercial Property Insurance from BIC

Safeguarding your livelihood and that of your employees starts with purchasing the correct type of insurance coverage. You don’t have to wade through all the jargon you don’t understand. We assist you in ensuring you have the best protection with the appropriate insurance policies including commercial property, general liability, commercial auto, and many others. Use our 30 years of experience to your advantage by giving us a call today!

Request a quote online or call and speak with a knowledgeable and experienced broker at The Business Insurance Center about commercial property insurance. We have a 24/7 call center to serve you and an online Live Chat operator. 

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