What is covered by business insurance in Medicine Hat?
What’s covered by business insurance in Medicine Hat will depend on what coverage you’ve chosen as well as the individual policy and insurance company. It’s important to read your policy documents and discuss your protection with your broker so you understand what’s covered.
What isn’t covered by business insurance in Medicine Hat?
Exclusions to business insurance in Medicine Hat will be explicitly stated in your policy documents. Common exclusions include wear and dear, rust and corrosion, rot, war, and nuclear incidents.
Some coverage exclusions are covered by other insurance products. For example, sewer backup and overland water (flooding) are not always covered by commercial property insurance. You can generally purchase an add-on (known as endorsement) to protect your business from this risk.
Another example is mechanical or electrical breakdown of equipment. This is not usually covered under commercial property coverage but is covered under equipment breakdown insurance.