In the world of business, commerce and industries, unwarranted and unpredictable disasters may hit the revenue of the business drastically. The worst part is that when such emergencies hit, the employees and the business have to incur financial losses with no fault of their own. Business organizations can avail of commercial insurance coverage. This insurance coverage is an insurance to secure the business financially. Such an insurance coverage ensures that the operations of the business keep running smoothly even after a disaster.
About Commercial and Business Insurance
The coverage policy of a commercial insurance is a bit different from usual insurance policies. Commercial insurance policies provide different coverage for risks such as fire, factory accident or worker’s welfare. You can get coverage sanctioned only if your business has sufficient exposure to risk. For example, you don’t need the coverage of marine disaster if there is no sea in the vicinity of your business. The only condition imposed on the claim is that the ‘accident’ or obstacle in the proceedings of the business, should have occurred without the fault of the business organization.
It must be noted that the insurance premium amounts differ in accordance with the coverage that you avail. This premium amount is tailored to suit the needs of the business and actuary does the calculation, taking into account individual features of the business. Note that you may have to take up multiple policies, as not all policies provide all possible coverage.
Printable Commercial Insurance Checklist
This business insurance checklist is relatively easy to use. Your first column consists of the particulars of the coverage. The second one is a yes/no check box column where you can check whether the coverage has been taken or not. The third column is also a check box where you can check if the coverage is a renewal or a new policy. The fourth column is used to mention the due date for the renewal or premium payment. The last column mentions the premium amount. Take a look.