Business owners are in a great position to secure their financial status as they grow and keep up with supply and demand. There are so many components to running a successful business, and one of the early considerations should involve commercial insurance.
Although the service you offer may be top-notch or your product is high quality, there is always the potential for an accident or incident to damage your reputation or stability. Legal and financial liability concerns surround every aspect of a business, from property damage to employee benefits and lost income encounters. There are three key types of insurance you could look at to protect your business.
Commercial General Liability
A standard form of commercial insurance is the general liability policy. It is used to provide coverage in the event of damage to another’s property, customers who become injured or lawsuits. It usually provides financial assistance for medical expenses and legal costs incurred by an incident.
Commercial Property Insurance
A comprehensive package protects a business and its physical location with property damage and liability coverage. It often includes coverage for contents, buildings, signage and machinery.
Commercial Auto Policy
With auto policy, your company received liability and physical damage coverage for any vehicles operated by your business. It could range from commercial trucks, vans or cars.
Take a look at your risks and exposures, and find out what policy will best protect your business.