Page 42 - The Magazine of AAA Ohio Auto Club – January 2022

When you think of Commercial Insurance, most people think about insurance that
is designed to provide protection for a business, its employees and
the owners.
Commercial, or business, insurance can be designed to the specific needs of the client and can include many different types of coverage. Typically, when we discuss
business insurance you think of the basic coverages which include Property, Liability, Auto and Crime.
Property coverage provides protection on the physical assets, including building coverage, business personal property and sometimes the property of others that is
in the control of the business owner. Property coverage also can include business interruption or loss of income due to an insured loss.
General Liability coverage provides protection for a business from bodily injury, personal injury and property
damage caused by the business in their scope of operations that they become liable for. Typically, liability coverage will not extend to the insured unless there is property damage or personal injury.
A Business Auto policy provides liability coverage; medical payments coverage for occupants of
the business auto; physical damage coverage, including collision and other-than-collision losses; and uninsured/underinsured motorist’s accidents.
A typical commercial auto policy provides coverage for “named autos” only but can be broadened to include non-owned autos as well.
When you think of crime coverage, most often you think of theft of money which could occur on and off of the insured premises. Crime coverage also can include employee theft of business assets, employee theft of client property, counterfeit money and/or money orders. Computer crime and fraud also can be added.
In addition to the basic coverages already mentioned, some businesses require more specialized coverages because of their specific needs.
As you can see, Business Insurance can be simple or very complex. Feel free to reach out to our Commercial Insurance Team with any questions or to assist you with a quote from one of our top-notch insurance companies.
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40 | AAA MAGAZINE
My Insurance Advice
By Vic Wolfe,
AAA Commercial Lines Risk Advisor