Business is a broad word in itself, Insurance is too. When paired together side by side, Business Insurance, everything becomes complex and thus, confusing. There are several internal variables that must be examined before plunging into business insurance. In this post, we will be giving you some of the variables in business insurance you can familiarize with.
Business insurance is a way to protect the business and their owners for events that’s our of one’s control. The best trick in getting it right the first time is to have insurance coverage that will protect you in case of an emergency.
Is your business protected?
Most business owners prefer coverage that can protect them in the event that they lose their property such as fire and theft. They also protect their inventory, equipment, and employees who are injured while on the job.
The type of coverage depends on the business you have and, in some cases, it can be affected by the lenders who own portions of the portion of the business as security against loans made in the business in the past. Insurance is also good protection from personal liability so that business owners would not be held personally responsible for the damages incurred in the course of the business operation. If the owner is held responsible, it may lead to loss of personal assets to pay the injuries or damages. The house may be sold, the cars, the savings, and any other asset with value.
Common Types of Business Insurance to Consider:
- Business Owners Policy – these is package policies for a business that are faced with some degree of risks. Here in London Insurance, we can tailor made your coverage into one policy. This is also less expensive in general as compared to getting several separate coverage. Some of the policies included are as follows: property coverage, liability coverage, business interruption, and others.
- General Liability – this one includes various liability exposures. It covers accidents on the property, products and services offered by your business, contractual liability, and operations done by your business.
- Professional Liability – this policy includes protection for people and entities of your business from negligent claims done by third parties or internal sources. Professional liability includes foreign liability, errors & omissions, liquor liability, pollution liability, and cyber liability.
- Property & Casualty – the types of insurance that protect your organization from financial loss because of physical damage. This includes your office furniture, computers, business documents, and even your business real estate.
- Commercial Insurance – this type covers the business’ property, tools and equipment, and assets inside the building you owned or leased. This type can be customized to fit your business needs. Covered in your commercial insurance includes theft and burglary, wind and hail damage, fire damage, hurricanes and floods, business interruptions, and others.
Protect your business even from fire damage!
In London Insurance Agency, we make sure that your business is not just doing okay now. We aim for your business to be doing well even after disastrous events and any other unforeseen occurrences. We make sure that your business is prepared and well protected. Pay us a visit or give us a call at +606-864-5152 if you’re in North Broad Street Area and +606-528-0232 if you’re in North Kentucky Avenue area.
We will be more than pleased to answer your questions to arrive at coverage you most need.