Surprising Things Covered by Your Commercial Insurance

Did you know that your commercial coverage would help you in these situations?Surprising Things Covered by Your Commercial Insurance

As a business owner, you know how important it is to have the right coverage to protect against commercial property damage, liability risks, employee injuries, and so on. However, you may be surprised to know just how far your business’s insurance will stretch. Here are some of the surprising coverages included in your commercial policies.

1) Your Ransom

For most business owners, the chances of getting kidnapped are incredibly slim. However, if you have received kidnapping threats or travel to unstable parts of the world frequently, you might actually be at risk. Luckily, there is an insurance option that will cover the cost of your ransom if you ever get kidnapped. You can secure kidnap and ransom coverage by adding a special endorsement to your existing professional liability policy.

2) Spoiled Food/Perishable Goods

If your business handles food or other perishable items, such as flowers or tobacco, your business would face some serious losses if your refrigeration system were to break down. However, if you tack spoilage coverage onto your commercial property policy, your insurance will cover the cost of replacing all the items that have spoiled as a result of equipment breakdown or a power outage.

3) Product Recalls

A product recall occurs when products you have put on the market have some major defect that could place consumers at risk. Understandably, a product recall will result in some serious losses for your business. Luckily, most product liability policies offer coverage for the expense of recalling products and destroying the defective ones.

These are some of the unexpected things that your commercial insurance can cover. Are you looking for the comprehensive business insurance that your business needs? If so, contact the experts at VGW Walker Insurance in Texas. We are ready to assist you with all your business insurance needs today.