surprising commercial coverages

There’s Business Insurance for That?

Three surprising scenarios covered under commercial insurance.

If you run a company, you know how important it is to have the right business insurance in Plano, Texas. While you understand that your policies will cover things like property damage and a myriad of liability issues, you may be surprised just how far your commercial coverage can extend. Here are some of the unexpected things that business insurance will cover.

Accidental Environmental Destruction

Despite what you may think, your regular business activities can actually have an extremely adverse impact on the environment. If this happens to you, your company will be held liable for the bodily injuries and property damage caused by your unintentional release of smoke, fumes, acids, alkalis, toxic chemicals, waste materials, or other contaminants. Fortunately, you can protect against this risk by adding a sudden accidental pollution endorsement to your business’s general liability insurance.

The Death of an Essential Employee

As the owner of your business, there’s a good chance that your company will fail in the event of your sudden death. If you died suddenly, your business would have to continue regular business operations while searching for an adequate replacement. Securing key person insurance can help. Key person insurance is a life insurance policy purchased by the business. This policy offers coverage to keep your business afloat in the immediate aftermath of your death, and will also offer compensation for the costs associated with finding a suitable replacement.

Spoiled Goods

If you handle food or work with other perishable items, your business would suffer considerable losses if your refrigeration system went down. Luckily, you can cover the cost of all your spoiled inventory by tacking spoilage coverage onto your commercial property policy. This endorsement will compensate you for your business’s spoiled goods when your heating or cooling system breaks down, or when the power goes out.

These are some of the unexpected situations that the right business insurance in Plano, Texas can cover. Interested in learning more about what commercial coverage can do for your company? If so, contact the experts at Tri-Star Insurance/HUB International. We are ready to assist you with all your coverage needs today.