Here are some of the insurance types that your business needs.
As a business owner, you probably recognize the importance of having the right insurance coverages in place. However, with all the different options out there, it can be difficult to determine which policies are the most essential for your company. To make things a bit easier, here are some the most essential coverages for any business.
Commercial General Liability
One of the most serious threats that your business faces is the risk of various liability issues. This is why it’s so important to have the right commercial general liability protections in place. This type of insurance will offer coverage in the event that your business is found responsible for third-party injuries, property damages, or other losses. Additionally, if the affected party should sue, this policy will offer coverage for your company’s legal and settlement expenses.
Commercial Property
Your business also faces the risk of physical damages to your building. Luckily, having the right commercial property insurance in place will offer coverage for your building and all the supplies, inventory, equipment, and other property housed inside of it. These policies offer coverage for the damages and losses caused by vandalism, break-in, fire, extreme weather events, and so on.
Workers Compensation
Workers compensation is one of the few commercial coverages that is actually mandatory. In fact, almost every state has laws governing the amount of coverage that businesses are required to carry. Workers comp insurance will offer coverage for the medical treatment and lost wages of employees that get injured or become ill while on the job. Additionally, if an injured employee should decide to sue, workers comp insurance can be used to cover the cost of your company’s legal fees.
These are some of the commercial coverages that your business cannot afford to overlook. Looking for further assistance with your business’s insurance needs? Then turn to the experts at ISU-Wissink Insurance. Contact our dedicated team to get the coverage that you need today.