Commercial insurance in Coppell, TX, provides the coverage necessary to protect your finances. Most business owners obtain liability, auto, workers’ compensation, and property coverage. However, there are a few common exclusions to be aware of regarding commercial policies.
Employee Damage
Most policies explicitly exclude damage caused by employees, including theft or property damage. In such cases, you may need to contact local law enforcement, press charges, and file a lawsuit. Some companies may cover employee-related damages up to a certain amount, so it’s important to consult with a company like The Select Insurance Agency to understand policy exclusions.
Natural Disasters
Many natural disasters are excluded from commercial property policies. For example, tornadoes, floods, and hurricanes may not be covered under standard policies. Property owners typically need to purchase additional coverage to protect against these events.
Workers’ Compensation Exclusions
Workers’ compensation claims may be denied for several reasons. For instance, if an employee was responsible for their own injury, such as being intoxicated while operating heavy machinery, the claim is unlikely to be covered.
Wear and Tear
Normal wear and tear is not considered a covered peril. For example, an insurance policy may cover a new roof if a covered peril damages it, but it won’t cover a replacement roof if it’s leaking due to age. Preventative maintenance, such as removing a leaning tree, is also typically excluded.
Intentional Acts
Intentional acts by employees or business owners are not covered under this policy. Filing a claim for damages caused by intentional actions is considered insurance fraud. This is why acts committed by employees are generally also excluded.
Commercial policies often include several exclusions. Agents at The Select Insurance Agency can help you understand your policy and its limitations. Contact us today to learn more. We proudly serve the Coppell, TX, area.
