When starting a business, the last thing on your mind is something going wrong. But as with most things in life, terrible things can and do occur. If you aren’t prepared for the worst, you may be liable for something that isn’t your fault. This can result in the loss of your assets and your company. Protect yourself, your employees and your business with commercial insurance, which will shield you from the unexpected horrors that will inevitably arise when running a company.
What Does Business Insurance Protect?
Commercial insurance will protect your business from the steep financial misfortune associated with unexpected events. These unfortunate situations include the death of a business partner, a lawsuit against your company, an injured employee and many more unforeseen circumstances. Without business insurance, you company can be held responsible for something that you have no control over and be forced to pay the price. Commercial insurance if the best way to protect your business and provide your employees with the peace of mind that their workplace is a safe and stable environment.
Different Types Of Business Insurance
There are many different types of commercial insurance, each providing coverage for some kind of risk that your business may face. Here are some of the most popular types of business insurance.
General Liability Insurance
Businesses purchase general liability insurance for protection from the legal woes that come from accidents, negligence claims, accidents and other situations that that could put your company in court. This type of insurance will protect you from paying hefty injury settlements, property damage and can even help if your company is forced through an appeal procedure.
Professional Liability Insurance
This type of insurance will protect your business from errors and omissions, in cases of malpractice and negligence. In some states, professional liability insurance is required for specific professions. This is the case for doctors that are required to obtain malpractice insurance in order to practice medicine. Bad things happen, don’t let one mistake be the end of your business.
Product Liability Insurance
If your company produces a product, this type of insurance will help to protect your business if that product is found to be unsafe. You will be protected if a defected product harms a customer, which could otherwise result in a huge financial loss.
Protect your business with commercial insurance and shelter the investment that you have worked so hard to get up and running. For more information on business insurance and to give your company the protection that it deserves, give us a call today at 702-251-4949.