Your business is important to you, so it’s essential that you protect it. You may not know anything about business insurance coverage, but we do, and here is what you need to know to get started on a path towards proper coverage for your company.
 
buy prednisone tablets What is business insurance?
Business insurance encompasses all the different coverage types available to protect business owners from losses. Business insurance can cover the property and business vehicles and protect the company again legal claims such as workers’ compensation.
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Why do you need business insurance?
You may not think your business needs insurance, but it does. Anyone can be sued, and the smaller your business, the more likely that you can be held personally liable for debts. There are a variety of risks that come with running a business and it’s important that you have a tailored polices to protect yourself and your company.
What are the different types of business insurance available?
Some popular types of business insurance that you should consider are:

  1. Commercial Auto: Commercial auto insurance covers your business for loss or damage to vehicles used by your business and for damage to others caused by your business vehicles.
  2. Commercial Property/Business Equipment: Commercial Property and Business Equipment Insurance protects against physical damage or loss of business assets.
  3. General Liability: General Liability insurance protects your business against financial loss resulting from injury or property damage of others by the business owners of employees.
  4. Workers’ Compensation: Workers’ Comp provides wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee’s right to sue his or her employer for the fort of negligence.
  5. Loss of Income: Loss of Income Insurance protects a business owner against losses from a temporary interruption due to an insurable event such as fire or flood. Loss of Income Insurance can reimburse loss of net profits and necessary extra expenses.
  6. Professional Liability: Professional Liability protects against loss from a claim of alleged negligent acts and errors or omissions in the performance of professional services. This might include loss of client data and claims of non performance and negligence.
  7. Employment Practices: Employment Practices Liability Insurance (EPLI) protects employers from claims filed by workers that their legal rights have been violated. The policy will reimburse by court cost as well as any settlements or judgments.
  8. Commercial Umbrella: Business Umbrella Insurance protects you from damages in the event of a catastrophic accident. Business Liability covers a limited amount and when exhausted, the Business Umbrella will cover an increased amount.

How do you get business insurance?
Contact an insurance agency or professional you can trust. You have to know exactly what your business does and where it’s headed in the future. Do some research about the different types of insurance you may need, and then talk to an insurance professional. Make sure they understand your business and the risks involved and then have a conversation on what insurance policies are best for you.
Use this information to help make sure you’re business is protected. call us at 305-648-7070.