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