From the May 2007 issue of Investment Advisor • Subscribe!

Learn, and Buy

As a business owner, you should familiarize yourself with the coverage these types of business insurance cover, and consider buying for your firm:
  • Commercial property, which covers loss of business property from most perils, excluding crime.
  • Business income, also known as business interruption or business overhead coverage, which covers financial losses if the business becomes inoperable. It may cover losses such as decreased net income, normal ongoing business expenses, and extra expenses due to physical damage.
  • Commercial general liability, which covers a wide variety of liability loss exposures, such as premises, business operations, and contingent liability.
  • Excess and umbrella liability, which offer additional coverage above basic liability, up to a specified coverage amount.
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