Business owners understand how important it is to have proper insurance coverage. They want a policy that protects when a catastrophe strikes. They also need liability coverage if someone is physically hurt on their premises or financially damaged by decisions made.
What Business Coverage Is Best?
Both business property and liability insurance are a must for every business owner. Talk with your insurance agent about the plan that best meets your business model.
Business Property Insurance
Business property coverage, also known as a commercial property plan, helps cover repairs and renovations caused by specific damaging events. The property includes the premises, equipment, inventory and office furniture. Typically covered perils include such things as:
- Fire and smoke
- Hail and lightning
- Wind damage
- Theft and vandalism
- Electrical currents
Each plan is different, so it is imperative to understand your coverage.
Commercial Liability Coverage
Commercial liability insurance helps to pay for legal expenses if a client files a claim against your company.
- Commercial General Liability – If a client is injured or their property is damaged on your premises, this coverage protects your business.
- Professional Liability – This plan, also called errors and omissions insurance, protects your business if you offer professional advice or provide a service to clients.
- Workers’ Compensation – If your employees are injured at work, they are protected by this policy.
Protect your business with a comprehensive property and liability insurance package.