Common Exclusions For Commercial Insurance

In Enfield, CT, your commercial insurance policy is going to cover the most common hazards, most damages, and most losses, if you have an adequate policy. But there are some reasonably standard exclusions. Here’s why your claim might get denied:

  • You don’t have the coverage you thought you had. For example, some business owners believe that if they have liability, then they can file a claim after a fire. Liability is there to pay for damages and injuries when you are held responsible, but it doesn’t cover the building or your property.
  • You didn’t file within the deadline. Most insurers have different timeframes in which you can file a claim, but they all have a timeframe. You can’t sit on an insurance claim, saving it for a rainy day. You have to file promptly.
  • You don’t have adequate documentation. Say you lose a new pizza oven in a fire. Does your insurance company know you had a new pizza oven, or are you only insured for the old one? Update your insurance company about any changes and significant purchases in the store in a timely manner.
  • The losses fall under an excluded property. Most insurance policies won’t cover building foundations, land, paved surfaces, any crops, grain or hay stored outside, or non-livestock animals. Check your policy and ask your agent if you have any questions.
  • You were hit by a flood. Flood is covered by flood insurance. Almost nowhere in the United States will you find a commercial or home insurer that covers flooding.

If you’re looking to get covered in Enfield, CT, get in touch with us at the Koverage Insurance Group. Stop by the Koverage Insurance Group offices or give us a call and let’s see what we can do to help you.