With so many things affecting a business today, there are many types of security and safety to consider. One extremely important aspect not to forget is obtaining business insurance. We have compiled a list to help you figure out what type of business insurance suits you and your needs best:
Property Insurance
Property insurance provides coverage for stolen, damaged, or destroyed property.
Commercial Property Coverage
This covers your business’ personal property and property of others.
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Inland Marine
This covers damage to or destruction of your business property while it is being moved from one location to another. Additionally, it also covers the liability exposure for the damage or destruction to the property of others while in your possession during transport.
Boiler and Machinery
This covers business property, other property losses, and legal fees resulting from boiler and other machinery malfunctions. Boiler coverage extends to the costs of maintenance to prevent such damage from occurring as well as maintenance of heating, ventilation, and air conditioning units.
Crime
This covers the loss of merchandise and other assets of your business due to burglary, robbery, larceny, forgery, and embezzlement.
Commercial Liability Insurance
Liability insurance provides coverage primarily for the negligent acts or omissions of the individual, business, or organization. There are several lines of coverage:
- – Commercial Automobile: This covers any liability caused by use of any automobile in your
business. Coverage for Non Owned Auto and Hired Auto can also be covered. - – Premises Liability: Covers accidental injury or property damage resulting from dangerous condition(s) on business premises.
- – Products Liability: Covers bodily injury or property damage resulting from the use of your business’ goods or services.
- – Completed Operations: Covers bodily injury or property damage caused from the completion of your work.
- – Commercial Umbrella: This is coverage for your business in case any liability insurance already possessed does not fully cover the actual liability. Having this insurance covers the excess liability.
- – Employers Practices Liability Insurance: Provides coverage to employers against claims made by employees alleging discrimination (based on sex, race, age or disability, for example), wrongful termination, harassment and other employment-related issues.
- – Worker’s Compensation: Provides compensation for workers who become injured or ill due to a work-related activity.
