The Hidden Gaps: What Your Business Insurance Doesn’t Cover
Download MP3📝 Episode Description / Show Notes:
In this episode, we dive into the commonly overlooked exclusions in business insurance policies that can leave you vulnerable. Learn what your general liability or commercial policies don't protect you from — and how to close those dangerous coverage gaps before it’s too late.
In this episode, we dive into the commonly overlooked exclusions in business insurance policies that can leave you vulnerable. Learn what your general liability or commercial policies don't protect you from — and how to close those dangerous coverage gaps before it’s too late.
🔍 What You’ll Learn:
- Why assuming you're fully covered could cost you your entire business
- Common types of business insurance (General Liability, BOP, CPP, E&O, etc.)
- The role of exclusions in your policy and why you must read them
- Gaps in coverage for:
- Flooding, earthquakes, and landslides
- Commercial vehicles and employee-owned vehicle use
- Equipment breakdown (pizza ovens, boilers, machinery)
- Unowned property
- Intentional or expected damage
- Contractual liability (assuming another party’s risk)
- Workers’ compensation and EPLI (Employment Practices Liability Insurance)
- Pollution-related incidents, even small spills
- Aircraft, watercraft, docks, piers, and wharves
- Building materials, inventory, and product damage
- Product recalls and redo work
- Copyright infringement and advertising injury
- Cyber liability and loss of electronic data
- Loss of customer data, securities, trademarks, and money
- Agricultural property (crops, livestock)
- Walkways or roads around your building
💡 Key Takeaways:
- Most exclusions are not about saving money — they’re usually accidental omissions
- Coverage can often be added back easily and affordably through endorsements
- Customizing your policy ensures you’re not relying on generic business templates
- Skimming your policy's exclusions page can save your business from major risks
- Business Interruption Insurance (BII) can protect your income during downtime
- EPLI is essential for legal protection from employee-related lawsuits
📌 Action Steps:
- Review your insurance policy, especially the exclusions section
- Talk to your insurance agent about gaps and endorsements
- Evaluate what coverage your specific business truly needs
- Don’t wait until a loss happens — act proactively
