Types Of Commercial Insurance Plans A Business Needs To Consider

Running a business takes a lot of money, time and hard work. There are many things to take into consideration when setting up a new business. One such task a new business owner needs to consider is the type of commercial insurance plans they need to purchase to be a legal entity. Below are some of the more common types of policies of commercial insurance Altamonte Springs FL to consider from insurance companies like the one found at www.howdeninsurance.com.

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Property Insurance

This type of insurance will protect property losses in many types of commercial situations. It can include things such as fixtures, furniture, equipment supplies, business records and other physical items. Two types of property losses include direct losses and indirect losses.

General Liability Insurance

Another type of policy to consider is general liability insurance. This will protect the insured company against damage and injury claims made by other people like customers and clients. These policies offer coverage for liability that may arise from fire damage, medical payments, personal and advertising injuries, operations mishaps and premises policies.

Business Auto Insurance

Commercial auto insurance will offer coverage for vehicles which are leased, owned, borrowed or hired by businesses. It can be used to cover all types of passenger automobiles such as semi-trucks, commercial vehicles, trailers and small trucks. Whenever you have a vehicle that is used by your business on public roads, you need business auto insurance.

Workers’ Compensation

This type of insurance is to help protect your workers. The coverage will apply to any disease or bodily injury that is sustained while working. Any bodily injury that occurs has to be accidental. This type of coverage will pay for different types of benefits such as income, medical, death and rehabilitation.

These are the most common types of commercial insurance policies for businesses to consider. Any successful business relies on having the proper coverage for when something goes wrong. If an injury or death occurs at your place of business and you do not have the correct insurance policy, you could end up losing everything.

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