Business insurance is a necessary aspect of running a business. It will protect you and your business’s assets from accidents and damage that occurs. But what types of business insurance do you need? This video explains some of the business insurances your company needs to consider.
The first thing a business needs is liability insurance. If a third party is injured or otherwise sues your company, it will cost a lot of money to defend your business or pay the person for damages. Liability insurance will help you cover the costs associated with this, either partially or entirely depending on the exact policy you sign up for.
Commercial property insurance is another must. This will protect the physical property and the personal property of the company. If there is a fire or roof leak due to storm damage, commercial property can come to the rescue and help pay for repairs. It can also cover the cost of items that were stolen or vandalized.
Commercial auto insurance is also needed if you have vehicles associated with the company. For example, electricians who have trucks for getting around to job and hauling equipment will want to get a commercial auto insurance policy.
For more information, check out the video in the link above.