There are many good reasons why a business needs the right mix of insurance coverages. Business insurance is the prudent way that owners can protect themselves, their employees and their businesses.
Insurance for your company can be customized in order to meet your specific needs. General liability insurance is designed to protect the company when claims against it arise. These types of claims can involve cases of bodily injury, personal injury and property damage to the premises. A wide variety of issues can occur during your typical operations on a day-to-day basis.
Another category of business insurance is worker’s compensation insurance. Small and large business owners should be aware of their state requirements and minimums for worker’s comp insurance. Your policy should meet and fulfill a variable number of requirements. Worker’s compensation insurance protects the business against claims from its employees involving injuries or accidents that have occurred while they are on the job.
Commercial vehicle insurance can also be incorporated into your business insurance policy. Your insurance agent will help you develop a policy that will encompass your current needs. Then, as your company grows, the coverage can be expanded to add any additional commercial vehicles. This includes the cars, vans and trucks you need to operate your business.
Different industries have their own unique insurance requirements. Service companies that perform jobs at their customer’s home or office can frequently encounter claims originating from an occurrence on their client’s property. A tailored policy will help to protect your company if you or your staff provides the services of painters, contractors, landscapers, installers, and more.
Companies that provide professional types of services need to protect their interests with professional liability insurance. This coverage is recommended for financial service providers, realtors, designers, sales people, and many other specialties. It will protect your business against claims of negligence. Professional insurance is required in certain industries. Business professionals and owners should consider obtaining a comprehensive business insurance policy.