Commercial Property and Liability Insurance
Commercial property
The building and personal property form uses coinsurance (commonly 80%, 90%, or 100%), with agreed value available to suspend coinsurance. Blanket insurance applies one limit across multiple locations; reporting forms adjust premium based on reported values. Business income coverage pays lost net income plus continuing expenses during the period of restoration, and extra expense pays costs to keep operating. Civil authority coverage typically begins after a 72-hour waiting period.
The CGL
Coverage A bodily injury and property damage, Coverage B personal and advertising injury, Coverage C medical payments. Limits include each occurrence, general aggregate, products-completed operations aggregate, personal and advertising injury, damage to premises rented to you, and medical expense. Defense costs are paid outside the limits.
Exclusions to memorize
Expected or intentional injury, contractual liability, liquor liability, workers compensation and employer's liability, pollution, autos/aircraft/watercraft, damage to your product, damage to your work, impaired property, recall, professional liability, and employment-related practices.
Businessowners policy
The BOP bundles property and liability for eligible small and medium businesses, includes business income, generally has no coinsurance, and offers limited crime and computer coverage.
Rule of thumb: if the loss arises from the named insured's faulty work itself, look for the "your work" exclusion; if it damages other property, Coverage A may still respond.