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What is Commercial Casualty Insurance?

Also known as commercial liability insurance, commercial casualty insurance protects your business against financial loss due to injury and/or property damage. 
For instance, casualty insurance will protect you should a customer incur an injury while on your premises, such as falling on a slippery floor. Casualty insurance can protect you against lawsuits by covering medical payments, legal expenses, and even settlement costs (within pre-defined limits).
 
Does your business require commercial casualty insurance? The simple answer is: probably. While commercial casualty insurance may not be absolutely required by every single business, most businesses should have some basic level of liability protection to protect themselves against accidents and claims by both customers and employees. Moreover, anyone with a financial stake in the business, such as lenders and/or investors, will generally require that the business be protected through an appropriate commercial casualty insurance.
 
If you need to protect your business with commercial casualty insurance, or if you are not sure whether commercial casualty insurance is appropriate, we suggest you contact the insurance experts at Sungate Insurance Agency. We are business insurance experts, and we can help you understand exactly what type(s) of insurance your business needs to be protected against damages and financial loss. We can even provide you with a free quote!
 
What Does Commercial Casualty Insurance Cover?
 
Commercial casualty insurance is a blanket term used to cover a variety of different types of insurance. Your casualty insurance plan may include some or all of these different types, depending on the type and size of your business, as well as other factors. Here are some of the most common types of commercial casualty insurance:
  • General liability insurance
  • Errors and Omissions insurance (E&O insurance)
  • Management liability insurance
  • Cyber liability insurance
  • Workers compensation insurance
  • Employers liability insurance
  • Commercial auto insurance
  • Specialty types of casualty insurance can include excess liability, foreign casualty insurance, special event insurance, media liability, and entertainer liability

 
Is Commercial Casualty Insurance the Same as Commercial Property Insurance?
 
Commercial casualty insurance should not be confused with commercial property insurance. Property insurance specifically covers damages to buildings and the contents of those buildings, providing financial protection against losses due to theft, accident, natural disasters, and other causes. Because many businesses and organizations require BOTH property AND casualty insurance for complete protection, the policies are often bundled into one, sometimes called “property casualty insurance”. However, these policies are not interchangeable and provide financial protection in very different ways. It is important to understand the differences between the two and be sure to tailor your commercial casualty insurance, whether bundled with property insurance or not, to provide the specific protections and coverages your business needs.
 
Contact Sungate Insurance Agency and speak with one of our insurance experts to learn about business casualty insurance and to get the right plan, at the right price! 

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Contact SunGate Insurance Agency today learn more about the type of insurance you need. Click here to contact us or call (407) 878-7979.

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