After struggling for years with an incredibly expensive insurance plan, I realized that there had to be something that I could do to make things right. I started shopping around for a business that could help me to make things right, and I was able to find an insurance policy that fit well with my budget and my lifestyle. The premiums were low and the coverage was great, which is almost unheard of these days. This blog is all about choosing incredible insurance coverage for you and your family, so that you can enjoy a happier, healthier life. Check out this blog for more information.
With business insurance, there are a few types of insurances that most businesses need. These are general insurance policies that cover the needs of most businesses.
Type #1: General Liability Insurance
At the top of every business's insurance list should be a general liability insurance policy. General liability insurance is important to have if you have a physical location or if you work directly with customers and clients.
A general liability insurance policy will protect you if someone is hurt on your property and ends up suing you for damages. The policy will protect you. A commercial general liability insurance policy is designed to protect you against claims from anyone outside of your business. This policy will cover hiring a lawyer, and if any settlements or judgments are needed, the policy will cover it.
Type #2: Business Owner's Policy
Another popular type of policy for all types of businesses is a business owner's policy. A business owner's policy allows you to combine a general liability insurance policy with a property insurance policy. This is great if you need to carry insurance on your rental property or if you want to protect the business that you own. By getting a business owner's policy, you can combine two important policies and save money on both policies at the same time.
Type #3: Workers' Compensation Insurance
If your business extends beyond yourself and has employees on your payroll, you will need to have a workers' compensation insurance policy. This type of policy will pay for employees' medical expenses and missing wages if they are injured or catch an illness due to their job. This is an important policy to pick up once you start employing other people in your business.
Type #4: Cyber Liability Insurance
It seems that to survive, everyone is going online. If you sell products online or store information about your business and customers online or in the cloud, it can be good to have a cyber liability insurance policy. A cyber insurance policy can help with fraud monitoring, and it can step up and assist you with paying for and surviving cyberattacks and data breaches.
Most businesses are going to need a general liability insurance policy or a business owner's policy. If you employ other people, you are going to need a workers' compensation policy. If you run your business online, it is smart to have a cyber liability insurance policy. Talk to a business insurance agent to figure out what type of policies your endeavor requires.
Share8 March 2021
