Protecting your company’s investment in properties, equipment, and other key assets can be done in a few ways. For many industries, property and equipment protection are included in omnibus business coverage and business risk policies. That is hardly the only way to do it, however. Some assets are better covered through other types of policies. Property insurance and equipment insurance are also available on a stand-alone basis for those needing a la carte options for business asset protection.
Business Auto Coverage
If your company owns a vehicle for any purpose, you need some form of business auto protection. For those involved with commercial trucking or direct delivery to clients, commercial vehicle coverage includes your asset protection for the vehicle. If you have a company vehicle used for other purposes, like a personnel shuttle bus or a vehicle provided to traveling sales personnel, you may need a slightly different policy type with simpler provisions. Either way, you need a quote for an auto-specific policy.
Umbrella Insurance for Additional Coverage
If you already have individual asset protection coverage and vehicle coverage, you may need additional protection in the event that you have a claim that exceeds the original policy. Umbrella protection is also available for businesses, allowing you to extend your business asset protection collectively for all the covered assets your company owns.