Business Insurance Coverage: What Won’t it Cover?

​If you're going to get this is insurance, you must know what is and isn't covered by the policy. This text will focus on those things that are not covered by your business insurance policy. Read on to learn more about it.

1. A Renter's Space
   Business insurance typically covers personal belongings and equipment that pertains to the operations of the business itself. However, if someone is renting in your space for business purposes, the building itself will not be covered by your insurance policy. The other owner may well have to get his plan.
   
   
2. Specific Natural Disasters
   Commercial business insurance will not cover damages caused by specified natural disasters such as floods, extreme heat, or other weather conditions. Please check out your own insurance company's policies on natural calamities and coverage to be sure.
   
   
3. Fraudulent Claims
   Furthermore, any fraudulent action resulting in the damage of this is the insurance company will not cover related property upon discovery. Be honest with your claims and reports. Further, you can end up losing more than you have to if you lie about your business insurance claim.
   
   
4. Auto Accidents
   Also, standard business insurance policies do not cover auto accidents. You would need to get a separate auto insurance policy to cover your service vehicles, even if it is officially working.
   
   
5. No-Fault Coverage
   Lastly, business insurance will only cover you if the accident that damaged your equipment turns out to be not your fault. If you cause any mishap that affects your machine, you may not be able to rely on your insurance premium to cover repairs.
   
   You have to ensure that you can get additional insurance features to ensure that you will be covered if you need to pay for anything accident-related.

Conclusion
There are many types of business insurance policies from which you can choose. Consult your local insurance agency or sales representative to learn more about these additional insurance features. In doing so, you can prepare for anything that might happen eventually in terms of coverage and protection. 

Remember that knowledge is power. You will be safer as a business owner if you know a thing or two about insurance policies before deciding to get one.

At Insurance Marketplace Inc., we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (541) 779-017. You can also request a free quote by CLICKING HERE.