What You Need to Know About Commercial Insurance


Protect your business with commercial insurance. Have the right type, so that you don’t lose everything if unforeseen circumstances arise. If you have to close your business because of a lawsuit, your family would be devastated. There are several types of insurance that may offer you stability and keep you afloat if a disaster happens.

General Liability Insurance

If someone becomes injured while at your place of business, there could be damages that will be your responsibility. Having general liability insurance could protect you from paying out-of-pocket costs, like medical bills.

Professional Liability Insurance

Professional liability insurance protects the company from malpractice lawsuits or claims involving negligence. Physicians who own their own practice may be required by the state to have professional liability insurance.

Umbrella Liability Insurance

Umbrella liability coverage takes care of any gaps in insurance that is leftover. If you have a limit to your liability coverage, umbrella liability may be used to cover the rest.

Commercial Property Insurance

Commercial property insurance has two basic types. There is an all-risk policy and a peril-specific policy. The all-risk policy covers a large amount of events except ones that are clearly mentioned. The peril-specific policy only covers exactly what is written in the policy.

Business Vehicles

Having commercial insurance that protects your vehicles may be necessary if your employees use your vehicles regularly. Drivers that need to transport merchandise from place to place could be covered if you were protected with commercial insurance.

Home-Based Businesses

Some people may believe that their homeowner’s policy will cover losses if you have a home-based business. It’s possible that you might have to add addition coverage, including professional and general liability insurance to your homeowner’s policy.

Serving Selden, NY, XL Brokerage Inc. has independent insurance agents that can offer you information about commercial insurance options.

Avoid Fender Bender Fraud In Your Vehicle

Even in what seems like the smallest of accidents, it can be easy for someone to take you for granted. It happens more often than you would think. After a fender bender, people may exaggerate their injuries to get more money from you or hit you with a lawsuit. To prevent this from occurring in your life, there are some important steps to take, even in the most minor of accidents. Follow these steps to help protect yourself from fender bender fraud.

  • Take pictures of everything. When you are in an accident, there are never too many pictures. Take pictures of the road where the accident occurred and the surroundings. Take pictures of the vehicles involved and the damage on them. Take pictures of the license plates and the drivers license of the other driver. Take a picture of everything you can think of.
  • Get a police report. Not only is this is great idea so you can document the accident and get repairs done by your insurance company, but the police officer who shows up at the scene will also serve as an impartial observer of the accident should it go to court.
  • Get the other drivers’ insurance information. Report the accident as soon as possible and provide them with the police report when available.
  • Encourage any individuals who may be hurt to go to the emergency room as soon as possible. If there are injuries, getting an accurate description of the injuries can help protect you if you need to have it documented later.

Whenever you are involved in an accident and it is not your fault, you should do everything you can to protect yourself. These tips will help you in the long run. Contact XL Brokerage Inc. for all of your insurance needs.