BUSINESS INSURANCEBusiness insurance protects the contents of your business against fire, theft and other losses. Contact your insurance agent or broker. It is prudent for any business to purchase a number of basic types of insurance. Some types of coverage are required by law, other simply make good business sense.
Business Insurance
Business Owners | Corporate Group Plans | Commercial Auto & Truck | Workers Compensation | Liability | Professional Liability / E&O / Malpractice
TYPES OF BUSINESS INSURANCELiability Insurance: Businesses may incur various forms of liability in conducting their normal activities. One of the most common types is product liability, which may be incurred when a customer suffers harm from using the business product. Liability insurance also provides protection in case someone gets hurt using your services or falls down the stairs. There are many other types of liability, which are frequently related to specific industries. Liability law is constantly changing. An analysis of your liability insurance needs by a competent professional is vital in determining an adequate and appropriate level of protection for your business.
Property Insurance: There are many different types of property insurance and levels of coverage available. It is important to determine the property you need to insure for the continuation of your business and the level of insurance you need to replace or rebuild. You must also understand the terms of the insurance, including any limitations or waivers of coverage.
Business Interruption Insurance: While property insurance may pay enough to replace damaged or destroyed equipment or buildings, how will you pay costs such as taxes, utilities and other continuing expenses during the period between when the damage occurs and when the property is replaced? Business Interruption (or "business income") insurance can provide sufficient funds to pay your fixed expenses during a period of time when your business is not operational.
Key Man Insurance: If you (and/or any other individual) are so critical to the operation of your business that it cannot continue in the event of your illness or death, you should consider "key man" insurance. This type of policy is frequently required by banks or government loan programs. It also can be used to provide continuity in operations during a period of ownership transition caused by the death or incapacitation of an owner or other "key" employee.
Automobile Insurance: It is obvious that a vehicle owned by your business should be insured for both liability and replacement purposes. What is less obvious is that you may need special insurance (called "non-owned automobile coverage") if you use your personal vehicle on company business. This policy covers the business' liability for any damage which may result for such usage.
Office and Director Insurance: Under some circumstances, officers and directors of a corporation may become personally liable for their actions on behalf of the company. This type of policy covers this liability.
Home Office Insurance: If you are establishing an office in your home, it is a good idea to contact your homeowners' insurance company to update your policy to include coverage for office equipment. This coverage is not automatically included in a standard homeowner's policy.
Liability Insurance: Businesses may incur various forms of liability in conducting their normal activities. One of the most common types is product liability, which may be incurred when a customer suffers harm from using the business product. There are many other types of liability, which are frequently related to specific industries. Liability law is constantly changing. An analysis of your liability insurance needs by a competent professional is vital in determining an adequate and appropriate level of protection for your business. |
Business Insurance
Quotes Online
The Web has greatly affected the insurance industry, making business insurance shopping much more convenient than searching through local phone books.
Consumers are now linked directly to several business insurance companies via the Internet, making the tasks of obtaining business insurance rate quotes confidential and easier.
Get business insurance quotes from the insurance company's website and apply directly online to purchase insurance policies.
Comparing business insurance quotes online gives the consumer an easier and faster way to select a policy at the best rate, 24 hours a day, 7 days a week.
Business Insurance Quotes
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BUSINESS INSURANCE FYIYou will need to assess what your insurance needs as you shop for Business Insurance companies, brokers and agents. What sort of property insurance do you need to carry? What are your liability risks? Would it be financially beneficial for you to carry a general Business Owner’s Policy (BOP)? After you have determined what types of coverages your business will probably need, consider your policy deductibles and premiums. You may want to consider high-premium, low-deductible insurance policies if your business is particularly at risk for a certain type of loss; this way, you can pay a high one-time premium and a low deductible each time a loss occurs.
Buying business insurance is among the best ways to prepare for the unexpected. Without proper protection, misfortunes such as the death of a partner or key employee, embezzlement, a lawsuit, or a natural disaster could spell the end of a thriving operation. Ranging from indispensable worker's compensation insurance to the relatively obscure executive kidnapping coverage, insurance is available for nearly any business risk. Considering the multitude of available options, business owners must carefully weigh whether the cost of certain premiums will justify the coverage for a given risk.
There are many types of business insurance coverages that can be tailored to fit your needs. Insurance companies will be able to discuss, and tailor, whatever coverage is appropriate for your business. For in-home businesses, endorsements may be available to cover your business enterprise. A Business Owner Package Policy is also available if an endorsement is not possible. There are also policies which combine homeowners and business coverage into one policy. |
