Key Insurance Coverage For Your Business
What is commercial insurance, you ask? It is a set of coverages that provide financial coverage for your business in various ways. From protecting you against lawsuits to ensuring that you don’t have to come out of pocket when disaster strikes, commercial insurance helps to keep you afloat when bad times come. If you’re in the process of searching for coverage, here are three key options you should plan to include in your policy.
There are various forms of liability insurance. The most common forms for new businesses are general and professional liability. General liability protects you in case a third party suffers an injury or property damage because of your business. Professional liability protects you in case an error or underperformance on your part leads to a third party sustaining a loss.
As seen in https://www.isurepro.com/, property insurance offers protection for your business property against certain perils. Fires, certain storms, vandalism and theft are typically covered. Some agents allow you to add other perils under your coverage.
Workers’ Compensation Insurance
Workers’ compensation covers your employees in case of a job-related injury or illness. Your policy would provide payment towards any related medical expenses and lost wages.
Other coverages may be more relevant for your party depending on your needs. Work with an agent to craft a policy that aligns with your goals.