Commercial Insurance Checklist

The following article gives you a commercial insurance checklist, which you can print and use as per your requirements. Explanation of some important concepts related to commercial insurance has also been included in the following paragraphs.
BusinessZeal Staff
In the world of business, commerce and industries, unwarranted and unpredictable disasters may hit the revenue of the business drastically. The worst part is that when such emergencies hit, the employees and the business have to incur financial losses with no fault of their own. Business organizations can avail of commercial insurance coverage. This insurance coverage is an insurance to secure the business financially. Such an insurance coverage ensures that the operations of the business keep running smoothly even after a disaster.

About Commercial and Business Insurance

The coverage policy of a commercial insurance is a bit different from usual insurance policies. Commercial insurance policies provide different coverage for risks such as fire, factory accident or worker's welfare. You can get coverage sanctioned only if your business has sufficient exposure to risk. For example, you don't need the coverage of marine disaster if there is no sea in the vicinity of your business. The only condition imposed on the claim is that the 'accident' or obstacle in the proceedings of the business, should have occurred without the fault of the business organization.

It must be noted that the insurance premium amounts differ in accordance with the coverage that you avail. This premium amount is tailored to suit the needs of the business and actuary does the calculation, taking into account individual features of the business. Note that you may have to take up multiple policies, as not all policies provide all possible coverage.

Printable Commercial Insurance Checklist

This business insurance checklist is relatively easy to use. Your first column consists of the particulars of the coverage. The second one is a yes/no check box column where you can check whether the coverage has been taken or not. The third column is also a check box where you can check if the coverage is a renewal or a new policy. The fourth column is used to mention the due date for the renewal or premium payment. The last column mentions the premium amount. Take a look.

Sr noParticularsY/NRenewal/New PolicyDue DatePremium ($)
1. Disaster and Accident Insurance Coverage
1.1General Accident coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
1.2Coverage against external liability☐Yes ☐No☐New Policy ☐Renewal Premium............$............
1.3Asset Damage coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
1.4Worker compensation coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
1.5Medical and first aid coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
1.6Earthquake coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
1.7Fire coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
1.8Flood coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
1.9Landslide coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
1.10Road accident coverage for goods☐Yes ☐No☐New Policy ☐Renewal Premium............$............
1.11Premise disaster coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
1.12General liability coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
2. Asset Based Insurance Coverage
2.1Plant machinery damage coverage☐Yes☐No☐New Policy☐Renewal Premium............$............
2.2Premise damage coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
2.3Loose tools and inventory damage coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
2.4Stock damage and loss coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
3. Employee Insurance Coverage
3.1Medical and health insurance coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
3.2Aid coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
3.3Worker's accident coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
3.4Coverage against contagious diseases and ailments☐Yes ☐No☐New Policy ☐Renewal Premium............$............
3.5Accidental disability compensation coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
3.6Bodily injury liability coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
3.7General liability coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
3.8Liability coverage for third-party injuries☐Yes ☐No☐New Policy ☐Renewal Premium............$............
4. Other Coverage
4.1General Umbrella liability coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
4.2Infrastructure breakdown coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
4.3Lawsuit coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............
4.4Employees benefit coverage☐Yes ☐No☐New Policy ☐Renewal Premium............$............

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