Information on Commercial Insurance

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Not every person needs commercial insurance, but those that do need to be aware of why its important. Get information on commercial insurance with help from an insurance professional in this free video clip.

Part of the Video Series: Insurance Information
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Video Transcript

Hi, I'm David Sumpter, commercial insurance specialist with Wateridge Insurance in San Diego. Today, we're going to talk about commercial insurance policies or insurance policies for a business. If you operate a business you transfer risk to an insurance carrier by buying a commercial insurance policy. There are a number of different types of commercial insurance policies including property, general liability, worker's compensation, health insurance, commercial auto. There are more than 20 different coverages that you can buy. You want to check with your agent to find out just what coverages you need that match the type of operations that you do. Every commercial insurance policy is similar in a couple ways. Some will have deductibles. Deductibles are ways that you have to pay a little bit in the event of a claim where the insurance carrier pays the rest. There are limits. Every commercial insurance policy has limits. Make sure that the limits are adequate for a loss that you could see yourself getting into. Most commercial insurance policies are based on one of two different things, either payroll or revenue. So when you talk with your brother or agent make sure that you have those numbers readily available. Make sure you go with a commercial insurer that maintains a high financial rating, typically A- or better. Bottom line is talk to a good commercial insurance brother who can guide you through the process and match your needs with a commercial insurance program that fits. I'm David Sumpter, commercial insurance specialist with Wateridge Insurance, and we've talked about commercial insurance policies.


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