What Is Insurance?

Insurance includes a broad range of policy options designed to protect a business from financial loss. Businesses have their own unique set of perils and risks, which means a commercial insurance policy must be tailored to the business. Many factors, from the size of your company, to the number of employees, the materials being handled and whether you have work vehicles, will determine the specific coverage you need to mitigate risk and protect your company’s financials.

What Does Business Insurance Cover?

Business insurance coverage for a commercial operation can include the following and more:

  • Directors & Officers
  • Employer’s Protection Liability
  • Worker’s Compensation
  • Product Liability
  • Property & Casualty
  • Cargo/Transportation/Warehouse Throughput
  • Cyber Defense And Data Breach

How Much Is Insurance?

A number of factors affect how much business insurance costs, because it depends on the type of business and the types of coverage appropriate for that commercial operation. Cost also depends on the size of the business.

What Business Insurance Do I Need?

Depending on the nature of your business and any insurance which you are legally obligated to carry, certain types of business insurance should be considered essential:

  • General liability insurance
  • Product liability insurance
  • Professional liability insurance
  • Commercial property insurance
  • Business interruption insurance
  • Because commercial insurance needs to be tailored to each business based on risks, to know your company and ensure that you find coverage that adequately protects your business investment.