Having the right kind of business insurance policies is a large component of a comprehensive risk management strategy that can help protect your business’s finances. The Insurance Associates team is here to help you with all of your business insurance needs. Give us a call today to learn more or to get a free, no-obligation quote.

Business Insurance 101

Business insurance, also called commercial business insurance or commercial insurance, is simply insurance coverage designed to cover a business, including its employees and ownership. There are a wide variety of different types of business insurance available.

What’s Covered Under Business Insurance?

Every business’s insurance needs vary and may be influenced by company size, location, number of employees and industry. A few standard policies businesses may carry include the following:

• General liability insurance—A policy can provide coverage for claims of bodily injury or other physical injuries, personal injury (libel or slander), advertising injury and property damage. It can be offered as a package policy with other coverages such as property, crime, automobile and more. 
• Business interruption (income) insurance—If your business must shut down or cease operations due to a covered peril, this coverage can help replace lost income and pay for extra expenses incurred during the shutdown.
• Business property insurance—Also called commercial property insurance, this coverage helps pay for damages to your company’s equipment and property after a covered accident or incident.
• Professional liability insurance—This type of policy provides coverage if anyone makes a claim of negligence, misrepresentation or inaccurate advice against your business.
• Commercial auto insurance—If your company has vehicles, you will likely need to secure a commercial auto insurance policy to properly insure any fleet members or employees who are drivers for your organization.
• Workers’ compensation insurance—This coverage can help employees who become injured or ill due to a work-related incident receive replacement income, medical benefits and other financial assistance if they cannot work. Most states require that employers carry workers’ compensation insurance.

Depending on your business and industry, you may need to purchase other insurance policies for proper coverage. Insurance Associates is here today to discuss your insurance needs.

How to Get Business Insurance

If you’re in need of business insurance solutions, we’re here to help. Give the Insurance Associates team a call today to get started.