Three Important Business Insurance Coverages
Are you looking for business insurance in New Mexico? As you go through your search, you’re going to come across a number of coverage options depending on your industry and budget. Here are three of the most important ones that you should be sure to include in your policy.
Property insurance covers your business in case disaster strikes in the form of a storm, fire, theft or vandalism. If one of these unfortunate events were to hit, your policy would cover the cost to repair or replace your covered items which usually include your building, equipment, furniture and electronic data.
General Liability Insurance
General liability covers you in case a third-party sustains an injury or property damage on your property. If a lawsuit is filed, your policy will cover any attorneys’ fees as well any settlement or judgment amounts for which you’re responsible.
Professional Liability Insurance
Professional liability covers you in case a third-party incurs a loss because of your business practices. Doctors and medical professionals are most commonly known to require professional liability. Similar to general liability, if a lawsuit is filed, your policy will cover your attorneys’ fees as well as any other amounts for which you’re responsible up to your limit.
Plenty of other coverage options are available to keep you shielded from the many risks associated with business ownership. Work with an agent who’s experienced with business insurance in New Mexico to create a policy that meets your exact needs.