Commercial Insurance | What Do You Really Need for Your Small Business?

Having a small business is exciting, but there are a lot of aspects that go into that business. If you work outside the home, are working with others or if you sell goods or products, then protecting yourself is a must. You never know what might happen. Just like when you purchase auto insurance or even home insurance, it is also good to have commercial insurance for your business. Having this extra bit of protection helps to reassure you, it covers you in case of an emergency.

What Kind of Business?

The commercial insurance you need for your business also depends on the work you do. Those that run amusement parks or do surgery on others require this insurance as these are both risky businesses to be a part of. However, for those that are low-risk, such as freelance workers, then you may not know how much insurance you need.

Here are four types of business insurances you can choose from depending on which ones meet your needs as a business. Some even use two or more them, or extra add-ons to implement more protection for their company and business in case of any problems.

Property Insurance

Just as the name implies, this insurance covers the property that your business has. Not only do you gain coverage for all the business products, but you don’t have to rely on your home insurance should something happen, as this is not always guaranteed to provide coverage for the items.

General Liability Insurance

This is the one-size-fits-all approach. You can add-on extras to the list, or you can go with the general protection which covers you, your products, your employees and everything else. If you were to get sued for some mishap, this would help to cover the blow. It is the most common business insurance for any business, big or small, to get. It is also the one that covers several specific businesses that may be high or low risk as it can come with many add-ons to make it more comprehensive.

Product Insurance

While they can add this to the general liability insurance out there, it is also something that can be purchased alone. Protect your items you are making and the general manufacturing company and so on. It covers any product that does not deliver to its standards under this insurance coverage.
Professional Insurance

With this insurance, you cover any errors that might happen. It is good when something doesn’t go as planned and the person has to compensate for it. Accountants, doctors and other professionals such as this have to carry this insurance coverage. State law requires doctors to have this coverage to practice.

With the business happening right before your eyes, you’re getting the right coverage for the job. It is always recommended that you speak with the insurance professional at the company of your choice to find out what they recommend after you let them know what type of business you have and answer questions they might have. It is best to be safe, instead of sorry if something were to happen within your business you did not have the right commercial insurance to cover.

Choosing the Right Commercial Insurance

For more information about your commercial insurance options, contact the experts at Absolute Choice Insurance. We can set you up with coverage that adequately meets you and your business’s needs. Call today!

Phone: 407-344-4444

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