Are you an entrepreneur searching for commercial insurance to protect your new company? While the number of coverage options can make the process appear to be complicated for those who are unfamiliar, there are some basic concepts that make up all policies. Below are three coverages that you should plan to include in your new policy.
General Liability Insurance
General liability is there to protect you against lawsuits from the everyday execution of your business. If a third party sustains an injury or property damage on your premises or because of your business activities, your policy would pay for any legal fees and damages for which you’re found liable.
Professional Liability Insurance
As seen on https://www.reganagency.com, professional liability insurance protects your business in case you’re accused of making an error or delivering sub-standard service. Like general liability, if a lawsuit is filed, your professional liability policy would cover the costs of your legal responsibilities damages owed.
Property insurance protects your business by covering your property against damage or loss. Items that can be covered include your landscaping, building, furniture, equipment and electronic property. If your property is hit by a fire, storm, vandalism or theft, your policy would cover the costs to repair and replace them.
There are many other coverage options available to you depending on your industry and local government requirements. Work with an experienced agent to craft a policy that meets your needs.