Advertiser Disclosure

Categories Of Insurance Policies Available For Small Businesses

Categories Of Insurance Policies Available For Small Businesses Finance

The various insurance policies that would benefit a small business are as follows:

  • The most important for a business of any size is a General Liability Insurance. This provides protection against third-party lawsuits and covers both attorney and defense charges.
  • Protecting against fire, theft, and destruction of office space or property is its namesake, Property Insurance. It lets you run your business with as less an impact possible after an upheaval.
  • Provided as a set of insurance policies that are relevant for your specific business, a Business Owner’s Policy is a prerequisite for all businesses. It normally includes business interruption insurance, property insurance, vehicle coverage, and liability insurance, amongst others, and alterations to this list are permitted to include or delete what is crucial for your business.
  • Dispensing compensation to workers if they are hurt or killed while on the job is Worker’s Compensations Policy. A policy made compulsory by most States in the US, to protect both the owner and the worker, this provides monetary benefits to affected employees, if they forego their right to prosecute the business concern.
  • Similar to the previous one, Commercial Auto Insurance covers all the vehicles used exclusively or partially by the small business.
  • A Professional Liability Insurance provides reparation for the damages caused by the non-deliverance of or botched failure of products or services extended by the small business. Useful more for professionals providing services, this is as important as a General Liability Insurance, not in place of it, but in addition to it.
  • When delicate or sensitive private information about clients or employees is stored by any business entity, they are accountable for their safekeeping. A Data Breach Insurance Policy protects the firm in the event of a violation of this responsibility.
  • Offering protection to the people in charge of making decisions for the wellbeing of a small business, is the Directors and Officers Insurance that come to their aid in covering legal costs and damages that ensue because of their wrong judgments that affect the company adversely.

Make sure the small business you own invests in these insurances wisely.


Six Retirement Income Sources For A Peaceful Living

Whether you are planning to retire in the next few months or years later, it is important to ensure that your investments are secured and that you end up receiving a permanent source of income after retirement. Here is a list of six to ponder about: ...
Auto Loans

Companies That Provide Fast Bad Credit Auto Loans

It is not necessary for bad credit to hold you back when you think about getting approved for a car loan. Bad credit is just a temporary phase of life for many people. If you are a person with bad credit looking for an auto loan, you will just need t...

Three Best Identity Theft Insurance For You

The insurance for identity theft is provided by most of the major ID protection services. However, what the policy would cover would most definitely differ from one company to another. Most of the times, the costs associated with reclaiming your iden...