Commercial Insurance
Policies
Safeguarding your business against various risks is vital. Discover the essential insurance policies that provide the protection your small business needs.
Explore the Types of Commercial Insurance Policies
In today’s business environment, having the right insurance policies in place is more than just a good idea—it’s a necessity. From protecting your property to covering potential liabilities, the right insurance coverage can be the difference between business continuity and facing significant financial setbacks. Let’s explore some of the most common types of commercial insurance policies that small businesses can benefit from.
This policy safeguards your business against claims related to bodily injury, property damage, and personal injury, such as libel or slander. It provides financial protection in legal disputes, helping to cover costs that could otherwise be detrimental to your business.
Commercial Property Insurance covers damage to your owned or rented property and the equipment used for your business operations. It’s essential for protecting your assets, though it typically doesn’t cover damage from natural disasters like earthquakes or floods.
Also known as business interruption insurance, this coverage helps replace lost income if your business cannot operate due to covered property damage. It ensures that you can cover ongoing expenses like rent and payroll, helping to keep your business afloat during challenging times.
Commercial Umbrella Insurance extends the coverage limits of your liability policies. If a claim surpasses your policy limits, this policy covers the difference, offering your business an added layer of protection.
When your business uses company-owned vehicles, Commercial Auto Insurance is a must. It covers property damage and bodily injury claims in accidents caused by your business-owned vehicles, which personal auto insurance typically doesn’t cover for business-related incidents.
Mandatory in Florida for businesses with employees, Workers’ Compensation Insurance provides benefits to employees who are injured or become ill due to work-related incidents. This includes covering medical expenses, lost wages, and, in tragic cases, funeral costs.
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