What Are Some Common Exclusions In Commercial Insurance Policies? | Blog
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The Sanford Group Insurance Blog

What Are Some Common Exclusions In Commercial Insurance Policies?

Whether you are a large enterprise or a small business, you need a commercial insurance policy. However, standard business insurance only offers basic coverage, while many other risks your company might face aren’t covered. To get adequate business insurance, you must purchase specialty insurance for the excluded risks. Some common business insurance exclusions are:

1. Personal Property Used for Business Purposes

Some businesses have their employees use their personal properties for business purposes. For example, staff using their personal computer or car to perform business tasks. A standard commercial property or auto policy won’t cover damage to an employee’s personal property like a laptop or car. If your employees use their private vehicles for business errands in Ball Ground, GA, you should get non-owned commercial car insurance. 

2. Damage From Rust, Corrosion, or Normal Wear and Tear

Commercial equipment insurance is a vital commercial coverage if your company relies heavily on equipment to facilitate its operations. This coverage is supposed to cover the cost of repairing the equipment if it’s damaged, totaled, or stolen. However, damage resulting from rust, corrosion, or natural wear and tear is excluded from this coverage. At The Sanford Group, we recommend that you regularly maintain your company equipment to prevent rust and corrosion and reduce the rate of normal wear and tear. 

3. Terrorism and War

The threat of terrorism is currently an everyday reality. However, the commercial insurance you have for your enterprise doesn’t cover damage to business property due to terrorism. Additionally, it excludes damage to your company property due to war. 

4. Harm From Government Operations

The government regularly undertakes activities that affect businesses, such as military operations, building roads, and dumping nuclear waste. If your business is affected by government activity, your commercial policy won’t compensate you. Instead, it will be up to the government to compensate you. 

The Sanford Group offers unrivaled insurance assistance in Ball Ground, GA. Call us today.

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