Business insurance is absolutely critical to have, but if you’ve been looking for a commercial insurance quote, you might have noticed that there are a lot of options out there. Here’s an outline of many of the most important types of commercial insurance coverage.
First of all, general business insurance protects things such as your company assets. This includes commercial property coverage and insurance to protect against disasters like fire or business interruption. Other forms of business insurance include crime and fidelity, which protects against things like theft, as well as business auto to keep your company’s vehicles safe.
Liability insurance is another important form of insurance to have. Any business is vulnerable to a lawsuit, whether it’s justified or not. General liability insurance protects against things such as bodily injury or property damage on your premises, while directors and officers coverage helps to protect corporate leaders. Cyber liability is a necessity in today’s world, where data breaches are common. Finally, umbrella liability can help fill in any coverage gaps related to lawsuits.
Other important forms of insurance include surety bonds, which are designed to ensure that a party will follow through with a contract, as well as worker’s compensation, which helps to keep employees safe in case of a workplace accident. There are many different types of coverage for businesses out there, which you should keep in mind as you seek a good commercial insurance quote.