General Liability, Business Owner’s Liability, Commercial Auto, & Business Umbrella
General Liability goes along with the Business Owner liability and protects the company on lawsuits, but also provides in many instances’ coverage for equipment also. General Liability policies cover the building whether rented or being purchased or owned, covers the equipment, and everything on the premises. General Liability limitedly covers inventory. These coverages are like that included in a homeowner’s policy, just for a business. It covers fire, burglary, and injury.
Business Owner Liability covers the business owner against lawsuits from things like workplace harassment, sexual discrimination, failure to comply with a contract, etc. Yes, the general liability covers these things to a point, but the general liability is covering the business whereas the business owner’s liability covers the business owner.
Commercial Auto covers the autos of the company. This can for like delivery services sometimes cover the vehicles that delivery drivers use when on duty. If the company has advertisements of the business or if the vehicle is owned by the business this coverage is important. If it is a personal vehicle and does not transport clients or certain other duties just to go back and forth to and from the office and maybe even to go to clients locations and is personally owned then you can get away with business use on a personal vehicle coverage, by most companies standards.
A Business Umbrella policy provides and extends the coverages of your business policies. This added protection helps you by letting you lower your coverage on everything else to closer to state minimums and then let this pick up and fulfill the needs of your coverage needed. Does not extend the coverage of a benefits package. This policy extends for all your coverages like a Personal Umbrella policy does for your personal policies. This is very important because you never know