| There is no denying the fact that success of | | | | Protection Against Flood Damage |
| a business depends on the hard work of the | | | | |
| team but one disaster can wipe out your | | | | If your office is in the flood zone area, you |
| efforts and bring down the profits to dust. | | | | must definitely go for a policy, which |
| So, to avoid such an instance, you need to | | | | provide coverage against flood. Try to find |
| insure your business, whether it is a small | | | | out whether the place had been hit by flood |
| enterprise or a large corporation. | | | | in the past. Make sure you do something in |
| | | | advance to make up for the loss. Otherwise |
| There are insurance companies, which have | | | | you may face trouble. |
| policies that combine protection for all | | | | |
| major property and liability risks in one | | | | Protection Against Earthquake Damage |
| package. You can also opt for separate | | | | |
| coverage. Such a policy is called a business | | | | Earthquake is also not included in most |
| owners’ policy (BOP). Larger | | | | property insurance policies such as |
| companies may purchase a commercial package | | | | homeowners and business |
| policy. | | | | owners’ package policies. |
| | | | Special Earthquake Insurance Policy or |
| BOPs include property insurance for buildings | | | | Commercial Property Earthquake Endorsement |
| and equipments owned by the company. If there | | | | can cover you if you live in an |
| is any loss of income due to disruption of | | | | earthquake-prone area. However, earthquake |
| operation and business because of accidents | | | | policies have different deductibles. |
| like fire, it can be covered under the | | | | |
| Business Interruption Insurance. | | | | Business Interruption Insurance, which |
| | | | reimburses you for the lost income during a |
| There are liabilities, which cover the | | | | shutdown, applies only to the damage covered |
| company's legal responsibility for the harm | | | | under your business property insurance |
| it may cause to others. It is the result of | | | | policy. There won’t be |
| your company’s failure to do | | | | reimbursement for the loss caused due to the |
| the business operations. It can also be the | | | | closure of business because of the |
| bodily injury or property damage caused due | | | | earthquake. For it, you must have an |
| to defective products, faulty installations | | | | earthquake coverage policy. |
| and errors in services provided. | | | | |
| | | | Protection Against Terrorist Attack Losses |
| However, BOPs don’t cover | | | | |
| professional liability, auto insurance, | | | | In the US, loss due to any terrorism is |
| worker’s compensation or | | | | covered only for those businesses that have |
| health and disability insurance. Separate | | | | optional terrorism coverage. It comes under |
| policies are needed for professional | | | | the Terrorism Risk Insurance Act 2002. Still, |
| services, vehicles and employees. Generally, | | | | there are exceptions in |
| floods, earthquakes and terrorist attacks are | | | | workers’ compensation, which |
| not covered in the business insurance. | | | | include injuries and deaths due to acts of |
| | | | terrorism. |