Business Insurance

Good business insurance safeguards companies from any covered losses resulting in the operation of the business. There are a myriad of types of risks that a business may encounter that can be covered. Common examples are liability, key person, product liability and employment practices coverage.

Even for those who run their business out of a private home, liability coverage can be very important. In this case, the business owner can helped with legal defense and personal or property damage up to the policy limits. This is apt should you or any employees be at fault for bodily injury or property damage to a third party.

Key person insurance can be obtained to protect the company from the death or disability of a vital employee. This is normally one who began the business or one whose absence from the workplace would result in an impact of financial severity. This kind of coverage assists the business in sustaining itself during this type of challenge which could potentially cause harm to the business. It is frequently utilized to pay company expenses until a replacement for such an employee can be obtained.

If your business manufactures and sells goods, product liability insurance can safeguard the business from claims of a personal injury or property damage nature. These would usually arise from an allegedly defective product. Like liability insurance, this coverage handles legal defense costs and any personal injuries or property damage compensation within the limits of the policy.

Employment practices coverage protects the company from any potentially illegal employment claims coming out of the employer and employee relationship. Companies sued for wrongful employment practices will often include discrimination, harassment or unlawful termination, for example.

No matter if you are starting your business in a garage or you are operating out of a storefront, quality insurance can mitigate the results of several types of potential disasters.