When choosing a commercial insurance policy, it’s crucial to understand the protection it offers and what it does not cover. Knowing what’s not included can help you decide if you need bundled solutions or if an umbrella insurance policy might be more suitable for your needs. If you’re considering a commercial insurance policy in New Windsor, NY, and want to ensure you’re making a smart decision, Bryan Insurance Agency LLC can guide you through the process.
Exclusions in Commercial Insurance Policies
When investing in a commercial insurance policy, it’s vital to understand what the policy will not cover. This knowledge can save you from unnecessary stress and confusion. In New York, typical commercial policies do not cover the following:
- Earth-related incidents: Events like earthquakes, sinkholes, and land settling are not typically covered by traditional commercial insurance policies.
- Flood damage: Flood damage or water intrusion is not covered by a standard commercial insurance policy. If you live and operate in a high-risk flood area, it’s advisable to seek a separate flood policy for added protection.
- Injuries: Employee injuries are not covered by commercial insurance. You will need a workers’ compensation policy for this.
- Data breaches: A standard commercial insurance policy does not typically cover data breaches and cyberattacks.
- Business disruptions/interruptions: If you lose business due to direct damage or even a power outage, existing commercial policies may not provide you with the protection you need to compensate for losses.
At Bryan Insurance Agency LLC in New Windsor, NY, we’re here to help our clients better understand their commercial insurance coverage options and policy benefits. Anytime you’re managing or investing in a business in New York, we recommend reassessing existing policies to verify that you’re receiving sufficient coverage and protection. Contact us today to learn more about your options and determine which commercial insurance policies are right for you.