Coverage Questions

Infographic: Business interruption insurance

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Insurance options for green businesses

Across the country, businesses are choosing to go green. In addition to helping the planet, environmentally friendly practices and facilities can enhance the reputation of a business and lower its energy and water costs. Businesses are also encouraged to go green by government tax credits and other incentives.

 

While environmentally friendly buildings and equipment can provide numerous benefits to businesses, they also add costs and risks. Insurers have responded by offering policy options to protect a business’s investment in going green.

Insuring against the loss of key personnel

Many businesses—especially small businesses with fewer employees—depend on a single person or a few key people for their success. If a key person becomes unable to work or dies, the business might lose valuable accounts or be temporarily unable to operate, resulting in lost revenue.

 

Does my business need terrorism insurance?

Terrorism insurance is offered separately or as a special addition—called an “endorsement” or “rider”—to your standard commercial property insurance policy. A standard business policy alone will not cover losses caused by terrorism.

Does my business need earthquake insurance?

Though rare in many areas of the country, earthquakes can be highly destructive. Commercial property insurance covers some natural events, such as wind damage, but you must purchase separate coverage if you want protection against earthquakes. This Q&A  will help you weigh your risks and determine if you need this type of coverage. In addition, ask your insurance professional if your business should consider adding earthquake insurance.

 

Frequently asked questions about earthquake insurance

Q.  Do I really need earthquake insurance?

Does my business need flood insurance?

Natural disasters can be devastating to businesses. While damage caused by some types of natural events—such as lightning or wind—will usually be covered by commercial property insurance, you need a special policy if you want protection from flood damage. This Q&A will help you understand this type of coverage and determine if your business needs it.

 

Frequently asked questions about flood insurance

Q.  Does my commercial property insurance include flood coverage?

Insuring your home-based business

Whether you’re running a part-time, seasonal or full-time business from your home, you’ll want to carefully consider your risks and insurance needs. Starting a business—even at home—can be a challenging venture, and having the right insurance can provide a financial safety net and peace of mind.

 

Do I need business interruption insurance?

Business interruption insurance can be as vital to your survival as a business as fire insurance. Most people would never consider opening a business without buying insurance to cover damage due to fire and windstorms. But too many small businessowners fail to think about how they would manage if a fire or other disaster damaged their business premises so that they were temporarily unusable. Business interruption coverage is not sold separately. It is added to a property insurance policy or included in a package policy.