Protect Your Company's Assets With Commercial Insurance Policies It's important to protect what you have, whenever you own your own business. Insurance policies for your company can help to eliminate the risks you face while in operation. A key factor for your continued success will be choosing the best commercial insurance. The type of insurance your company needs can vary according to your industry. It's important to know exactly what type of insurance you'll need and how much coverage will be necessary to protect your business and your assets. The needs of a building contractor will obviously be different compared to those of an advertising firm or grocery store. Also, your location is yet another consideration in determining your coverage. The state your business is located in may have laws that require minimum coverage for various types of commercial insurance to be licensed or to operate. When determining your coverage, take into account the value of what you are covering, and think about what it would cost to replace certain items. This will help you decide what policy will best ensure that you can obtain replacements. With all these considerations, itâ€™s vital that you speak with a licensed insurance broker that will help you make your determination. Insurance policies can be put into two categories: life insurance and non-life insurance. Life insurance is often a long-term investment, like pension products and annuities, in addition to life insurance policies. Non-life insurance protects company assets and operations. Policies can then be split into standard insurance and excess insurance. The standard category contains those mainstream policies like workers compensation and property insurance. Excess insurance policies typically cover unique needs for a business, such as a vacant commercial building or a shooting range. These would be insurance policies that aren't needed to operate, but allow more coverage and flexibility for the business. There is a variety of coverage available for commercial insurance, based on your needs. One kind is property insurance, which protects your physical property, such as the building you own that your company operates in, the equipment it uses and also the merchandise or products it sells. Make sure you are aware of what kind of loss is covered by your policy. It may protect in the event of a fire, vandalism or theft. It could also be used to cover any costs associated with the loss, like a clean up crew after the event. There's a commercial policy that will safeguard against damages or collisions if your company owns vehicles. This will cover any vehicles that transport employees or products. This type of insurance will differ from property insurance, a lot like how your homeowners insurance will vary from your personal auto insurance. If workers are using their own personal vehicles for company business, you may also get policies that cover non-owned vehicles. Another type of policy is liability insurance. This includes general, product and professional liability insurance coverage. For instance, say your company is coping with a lawsuit; it'll be important to have coverage, just in case. Liability insurance can safeguard your assets and any incidents on the premises if, for example, someone is injured or damages property. This could include any litigation costs and any awards or settlements occurring because of the lawsuit. It can also include
The Sturdevant Agency
Protect Your Company's Assets With Commercial Insurance Policies claims of slander, copyright infringement or false or misleading advertising. There will be a maximum benefit that sets the amount the insurance company pays out for the claim within your insurance policy. Choosing the best type of insurance can help your company protect its assets and operations. It is important to make sure that you have considered your choices and have decided upon the policies that can best meet your needs. It's important to protect what you have, whenever you own your own business. Insurance policies for your company can hel...
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The Sturdevant Agency
Published on Jun 16, 2014
It's important to protect what you have, whenever you own your own business. Insurance policies for your company can hel...