BUSINESS & COMMERCIAL INSURANCE
The most common types of commercial insurance are property,
liability and workers' compensation. In general, property insurance
covers damages to your business property; liability insurance covers
damages to third parties; and workers' compensation insurance covers
on-the-job injuries to your employees. Depending on your business,
you may want additional specialized coverages. Listed below are some
of the different types of business insurance.
Property insurance pays for losses and damages to real
or personal property. For example, a property insurance policy would
cover fire damage to your office space. You can purchase additional
coverages for business property.
Liability insurance covers injuries that you cause
to third parties. If someone sues you for personal injuries or property
damage, the cost of defending and resolving the suit would be covered
by your liability insurance policy. A general liability policy will
cover you for common risks, including customer injuries on your premises.
WORKERS' COMPENSATION INSURANCE
Workers' compensation insurance covers you for an employee's
on-the-job injuries. Businesses with employees are required by various
state laws to carry some type of workers' compensation insurance.
In most cases, workers' compensation laws prohibit the employee from
bringing a negligence lawsuit against an employer for work-related
Questions or comments? Please let us know.