Commercial Property Insurance covers property owned by an individual or a business that is used in business. Normally, this type of insurance covers:

•Loss Of Income
•Extra Expense Coverage

This type of Coverage is typically combined under a CPP (Commercial Package Policy) or a Business Owner’s Policy with General Liability and other optional coverages.

This type of insurance is designed to cover Bodily Injury or Property Damage to other persons or Businesses as a result of your Operations. This type of policy will typically pay for both damages to the claimant and the cost to hire an attorney for you.

This coverage is normally triggered either from an injury resulting on one’s premises or as a result of your Business operations or Products where a loss occurs.

General Liability is normally written on an occurrence basis, meaning once your policy expires coverage ends unless the policy or another policy is activated or the action that resulted in the claim happened while the policy was in force.

Typical Liability Limits can run from $ 100,000 to $ 1 Million per occurrence.

General Liability does not warrant your work, but rather ensuing property damage or injury as a result of your work.

Confusing? You bet ! But it’s pretty good stuff.

Note: If you are a Small Business Owner and work out of your home, your Homeowner’s Policy will frequently exclude coverage for business-related property beyond a small set limit. Be aware of this limitation.

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