Casualty Insurance For Your Business
Many insurance packages will put casualty and property insurance together and these packages often offer the best deal. Nonetheless, it is good to know what casualty insurance includes.
Don’t Be Casual about Casualty Insurance
Casualty insurance insures against loss or damage to the business itself due to business interruption or other indirect losses.
For instance, if you have an office complex on the top floor of a high rise and there is damage to the first floor that will interrupt your business operations, casualty, not property, insurance will pay for your losses.
Casualty insurance should is a supplemental insurance and should be bought in conjunction with property insurance because many things are not covered in a typical policy. These include:
- Terrorism
- Flood
- Fire
- Political Risk
- Cyber Liability
- Identity Theft
- Employee Theft
- Cyber-Fraud
If you need coverage of the excluded items, they must be bought separately. For example, some businesses will want fidelity insurance, also known as surety bonds.
This type of insurance will protect you from fraud. It will also protect you if your employees were to steal your property or your customer’s property.
Or you may need to protect yourself from Internet fraud and identity theft, two growing issues.
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Business Liability Insurance
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