:: Business Insurance

 

There are some very basic concepts that apply throughout all types of insurance. Liability insurance protects you if you are sued for what you might do to others. Property insurance protects your personal belongings if they are damaged by lightning or fire. They are protected from theft or damage from a broken pipe. 

These concepts apply in personal insurance, but also in your business. Spending time to understand what your exposures are and how to best insure your business equipment is a vital part of any business insurance review. 

A “homeowners policy” is what the insurance industry provides to protect your home, the contents and liability all under one policy. The industry also provides what is a called a “business owners policy” to protect your business exposures for building, contents, and liability.  

There are policies designed specifically for vehicles used in business. There is also a coverage that is required if you have employees. This is called workers compensation and it protects your employees if they are injured while in the course of their job. It pays their medical bills and lost wages if their injuries require treatment or prevent them from working.