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Business Insurance

Not only do people, homes and cars need insurance, but so do businesses. Business insurance protects businesses from possible losses. These losses can include property loss, liability claims for damage or injury, and damage from acts of nature or vandalism.

It’s a good idea for business owners to insure their business. A business owner who doesn’t have a lot of inventory or capital invested might think insurance is unnecessary. However, any business can suffer financially if it doesn’t have insurance. Basic coverage protects the property belonging to a business.

However, the most common claims are liability or third party claims, which the business owner will need to defend against or pay. These claims result when a business is accused of doing something to cause injury or damage or failed to prevent injury or damage. The claims can drive a company out of business because they’re usually expensive.

Business insurance protects the assets of businesses. Certain coverage may or may not be needed, but owners should consider: Property Insurance, General Liability Insurance, Product Liability Insurance, Professional Liability Insurance and Workers’ Compensation Insurance.

Property insurance covers physical assets, and liability insurance protects against financial loss should someone sue the business for negligence. Workers’ Compensation provides coverage for injured employees, and generally means an employee can’t sue an employer for injuries. This is protection that any business owner should have.