Different Types of Commercial Insurance
Running a business comes with its own risks, from financial losses to potential lawsuits. Commercial insurance plays a crucial role in protecting businesses from unforeseen events. Let’s explore some of the common types of commercial insurance and their benefits. 1. General Liability Insurance This type of insurance is essential for any business. It protects against claims of bodily injury, property damage, or personal injury caused by your business operations. For example, if a customer slips in your store and gets injured, general liability insurance covers medical expenses and legal fees. 2. Property Insurance Property insurance safeguards your business’s physical assets, including buildings, equipment, and inventory. It provides coverage for damages caused by events like fires, theft, or natural disasters. For instance, if a storm damages your office, property insurance can help cover the repair costs. This is a must-have for businesses with tangible assets. 3. Workers’ Compensati...