Are your company’s computers properly insured? What would happen if a company laptop was stolen while an employee had it at Brewed or Sunrise Cafe? Would your commercial insurance reimburse your company for the loss? You should know the answers to these questions, before your employees use company equipment outside the office.
Commercial Insurance is for Computers
Commercial insurance policies are designed to protect business’ property and possessions, which typically include computers. This type of insurance is designed to protect your company against the theft or loss of a physical computer.
Of course, your specific coverage will be determined by your policy’s definitions, limits and exclusions. In the above hypothetical example, you would want an insurance policy that covered company possessions even when they weren’t in your Catalina Foothills office. A policy that extended coverage beyond your 85718 zip code, throughout Arizona and the world would protect company laptops no matter what coffee shop they were in.
Cyber Liability Insurance is for Data
Most commercial insurance policies, however, only cover your company’s physical possessions. They would likely cover the computer, but they would not protect the data on it. For that, your company would need a cyber liability policy. Cyber liability insurance protects companies in the event of a data breach.
Contact an Agent
To understand how commercial and cyber liability insurance work together, contact us at Shaner Insurance Group. One of our independent agents would gladly help you compare quotes on commercial insurance and go over how each policy’s terms would play out if a company computer is stolen. They will be able to help you determine whether an additional cyber liability policy would be necessary or if your commercial insurance is enough.