Common Types of Commercial Insurances

As leader and manager or at least as small business owner you should know all or common commercial- business insurance types. Today we will mention common types like property, liability, commercial auto, home owner insurances and workers compensation insurance. In a case you need info about policies and quotes visit this website and compare prices and overall terms. Let’s continue.

Generally, property insurance cover damage to your business property like buildings and offices, liability insurance covers damage to third parties and workers comp insurance covers your employees in a terms of injuries, dental and health insurance etc. Most businesses need elements of all these mentioned insurances.

Every of these common insurances can be divided to subcategories. Here are just some of them:

1. Property insurance

a. Machinery insurance – covers machinery breakdowns,

b. Debris removal insurance – covers costs after removing debris after fire or flood,

c. Glass insurance – name says it all,

d. Marine property – covers property in transit to your premises,

e. Builder risk insurance – covers building while being constructed

f. Crime insurance – covers theft and burglary,

g. Tenant or renter insurance etc.

h. Earthquake is also not included in most property insurance policies., earthquake policies have different deductibles.

2. Liability insurance

a. Automobile insurances – covers all damage to vehicles you are using for business purpose

b. Malpractice insurance

c. Officers insurance etc.

3. Workers compensation insurance

a. Injuries insurance – covers lawsuit against an employer for work-related injuries,

b. Health and dental insurance etc.

Some of insurance agents will offer data breach insurance maybe even commercial umbrella insurance. Your obligation is to gather ad much as you can information to make your decision about insurance right. Every business needs insurance and you need to find best for your small or medium firm. That is why you need to search a bit online, in local newspapers, ask friend and co-workers and get info on different insurance companies or at least agents. We all need more leads and better ROI but cutting fees on insurance would not help. Remember every insurance policy is different and there may be endorsements one can add to increase coverage (and premiums) or exclusions which can decrease coverage (and, sometimes, premiums). It is all up to you, choose smart don’t regret later. Having quality commercial insurance is MUST in turbulent market and business climate.

In order to be ahead of the competition, insurance companies have to be transparent in every aspect of their business, but also fast and effective. Different states in US have different rules regarding business insurance, but minimum commercial liability insurance is a must in most of the cases. It’s important to know that all insurances are not the same.

If you need advices from professionals with lot of experiences visit South California Insurance from San Diego, CA and speak to best agents in this field. See how they can increase coverage and decrease premiums.

Todd Dawson Is a freelance writer