It’s important for business owners to understand the exclusions related to firearms in their commercial insurance policies. This coverage may be limited or even completely excluded in the event of violent incidents involving firearms.
Imagine a scenario where a fight breaks out in your business and ends in a shooting.
In such a case, you may be sued for injuries suffered by others. Even if the event doesn’t happen within your premises, you could still be held liable if the incident originated inside your business.
It is important to note that not all commercial insurance policies cover these types of situations. Many include firearms-related exclusions, which could limit your insurance coverage or exclude it altogether in the event of a violent incident. Therefore, it is critical that business owners understand their insurance policy exclusions and evaluate the need for additional coverage to protect themselves from potential financial consequences in the event of a violent incident.
In addition to the firearms-related exclusions in commercial insurance, there are many other common exclusions:
- Intentional Damage: Any damage caused intentionally will not be covered by the insurance policy.
- Acts of terrorism: Acts of terrorism may not be covered by a commercial insurance policy, or there may be limitations on the amount of coverage available.
- Damage caused by pollution: any damage caused by pollution of the environment will not be covered by the commercial insurance policy.
- Injury or damage to employees: If an employee is injured or causes damage while on the job, it is not likely to be covered by the commercial insurance policy, but by workers’ compensation coverage.
- Damage to third party property: any damage to a third party’s property, including your personal property, may not be covered by the commercial insurance policy.
- Criminal acts: any damage or injury caused as a result of a criminal act will not be covered by the commercial insurance policy.
Remember that the security of your business is essential for its success and continuity. Carefully review the exclusions related to firearms in your commercial insurance policy. If you need help choosing the best commercial insurance option, do not hesitate to contact Rondon Brokerage, our insurance specialists will provide you with the advice you need to make the best decision. Taking preventive measures and being prepared can make the difference in case of violent incidents, protect your business today!
