Imagine that you’re about to retire. You’ve got a nice retirement account, and a paid-off house and car. Altogether, your assets put you in high net worth territory, and life is good. One day, you get into a car crash driving your company’s van. You aren’t hurt and there’s minimal damage to your car. However, the other car if in bad shape and so are the executives that were riding in it. Find out how a commercial insurance can protect your personal assets. Be sure to follow up with your XL Brokerage Inc. agent with specific questions on your policy needs.
What Commercial Insurance Covers
Commercial insurance covers the same thing as regular insurance but applies to your business. It separates your personal and professional liability.
- Bodily Injury. For instance, your employee is working at a job site and injures someone. Your commercial insurance covers the medical treatment for the injured party. Because you have business insurance, you don’t have to pay out-of-pocket, putting your personal assets at risk.
- Property Damage. If you employ a truck driver and she crashes into someone’s front porch, your commercial auto insurance covers the damages.
- Worker’s Compensation. If an employee gets hurt on the job, worker’s compensation pays the cost of his medical bills.
- Other Coverage. Product liability and business disruption are just two of many options to cover your business’s insurance needs so that you can protect your assets
Contact XL Brokerage Inc. to find out how getting commercial insurance for your Selden, NY business can protect your assets. Contact us for an appointment to get a quote today.