Commercial insurance offers coverage for large corporations and businesses. Commercial insurance coverage protects your business against risks that might hamper the company’s growth and success. Commercial insurance is available in different varieties to cater to the requirements of several businesses. While some policies safeguard several financial aspects of the organization, others protect the reputation and establishment of the business.
Let us take a look at some of the important commercial insurance variants that your business might need:
General Liability Insurance
General liability insurance is a must for businesses that deal with customers directly. This insurance offers protection against business operations-related claims. Suppose a person visits your business premises and slips and falls, causing an injury; general liability insurance will provide the required coverage for the damages and the expenses. This insurance also offers protection against slander and libel claims.
Commercial Auto Insurance
Commercial auto insurance protects your business from the expenses of injuries or damages inflicted when you are using a vehicle for business purposes. This insurance is offered when you or any company employee meets with an accident. The insurance covers the replacement or repair cost of the vehicle. It also covers lost wages or medical expenses, if any. If your business needs vehicles, ensure you have commercial auto insurance.
Businesses of all dimensions need this insurance. If an employee gets injured at work, the company will provide for the lost wages and medical expenses via workers’ compensation insurance. An injured employee may often sue the company for poor working conditions and similar issues that might have caused the accident. In such a situation, the insurance coverage pays the legal defense expenses too. Many companies combine disability insurance with workers’ compensation.
Getting commercial property insurance for your business is mandatory. This insurance policy protects business assets against theft, damage, or accidents. In an uneventful fire breakout or a theft in the office premises, commercial property insurance will cover the lost income and reimburse the replacement or repair expenses. Businesses that have expensive assets must opt for this commercial insurance policy.
Business Owners Policy (BOP)
This insurance policy offers extensive coverage to businesses. With a business owners policy (BOP), you can bundle the different business coverages under one segment. Common coverages in a BOP include property damage, workers’ compensation, general liability, and business interruption.
Contact Scautub Agency to Get the Best Commercial Insurance!
Your search for the best commercial insurance policies for your business ends at Scautub Agency. We work with leading insurance companies to customize policies to tailor your businesses needs. Hence, you can choose the most suitable policy for your company. If you are confused, the safest option is to choose the business owner’s policy which covers many policies under one umbrella. Contact us to get the best commercial insurance coverage.