Six types of commercial insurance, and why you may need!

Security is just one of the many challenges facing business owners

Business man working on a computer that business owners tend to focus on the tangible costs such as inventory, payroll, rent, and advertising. Therefore it is very easy to forget the costs incurred by the business, some of which may be enough to cause significant financial loss to the company.

This is where insurance comes in. designed this type of business insurance to protect the business owners in the event of an unexpected event, which may lead to significant losses. Here are six basic types of business insurance available:

1. Commercial Real Estate. If your business has a physical presence in everything - from building in the share of a storage facility in your garage - then you will need to consider the commercial property insurance. It looks like home insurance for your business, and will cover the losses caused by natural disasters such as fires, floods, hail and wind. It also protects your business from theft and vandalism and civil disobedience. In addition, the policy covers things such as business interruption, document parts, and lost income as a result of any of the issues mentioned above.

Businessman car use2. Commercial vehicles. It also can be considered a commercial property policy and "homeowners insurance for you. The policy can be applied really personal for your car if used as part of your business, such as making deliveries or transfer of equipment for a job. Commercial auto insurance covers most of the same events as the consumer counterpart, but it also protects your assets in the event of an accident. Therefore, if the employee was struck and injured a pedestrian in your commercial vehicles, will your insurance company pay compensation to the policy limits you choose.

3. Workers' compensation. This coverage is required by California law for all business owners, even if they employ an individual. And workers' compensation coverage to pay for the costs of medical care in the case of employee injury at work and lost income while he or she is recovering from injuries. If the employee is disabled permanently from the accident, this policy may also pay benefits until they reached retirement age to the person. As is the case with different auto insurance rates based on the type of car people pay the price for workers compensation insurance varies according to the type of work done, so the work that usually carries less risk premium will call for small policies.

4. General obligation. In the world of litigation - happy today, every business to carry general liability insurance, because it helps to protect the company from lawsuits, and more importantly it has lost. It also helps to protect against all costs relating to the legal requirements to challenge the suit. Even if the client slips and falls in a store and a broken leg or trim a tree service to cut a large branch that fell on top of the car to the customer, or employee as a fabrication, a competitor, each of these scenarios are covered by a general liability policy.

5. Managers and employees. Insurance policy helps protect business owners, managers and board members, and others as an officer or director of a listed company. In particular, it protects those individuals, if they are unaware of how their corporate duties. A management and policy officers usually recommended in industries such as accounting, tax preparation, investment and retirement planning, where large sums of money at stake.

6. Commercial umbrella. Think of it as an insurance policy "different." Although it does not cover every possible situation, information technology design issues that might fall through the cracks with other types of policies to address. In addition, commercial umbrella insurance policy as a "backup" if the limits are exceeded for other policy coverage. Therefore, if you are forced to pay millions of dollars in damages in a lawsuit, and a standard insurance policy will not cover your full refund, and will cover the business umbrella of choice is often compensate for this deficiency, depending on the amount of your coverage.

If you want more information about any of these types of business insurance, be sure to contact AI Insurance today. Is weak your business.

This content is for educational purposes only and do not represent contractual agreements. Definitions and terms and coverage in a particular policy may be different from those proposed here will be subject to such a policy by the language contained therein. There are no warranties or fitness for a particular purpose is expressed or implied.


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