Otherwise, you'll have to insure each class of property with a separate policy. Collision insurance can be carried with a high deductible, thus reducing premium costs significantly. Cargo coverage can also be secured to cover the cost of any losses to inventory or goods on board your company truck. Crime insurance is designed to cover specific risks you may have in your business. These can range from burglary coverage for your safes to off-premises robbery of your bookkeeper en route to make a bank deposit.
Crime insurance is generally quite expensive.
They cover fire and lightning but exclude theft. Extended coverage is almost always purchased with a standard fire policy. These policies cover hail, windstorm, and vandalism as well as fire. Policies can be purchased that will also protect your accounts receivable records, computer files, currency, securities, and valuable papers. Flood losses, however, must be insured separately.