Commercial Insurance Needs
What Kind of Insurance Does My Business Need?
Your business may have varied commercial insurance needs. Consider your business type to determine what kind of insurance is best for you:
- Business income -Protects against the loss of profits and rents due to insured losses
- Commercial auto - Covers auto-related incidents involving your business' vehicles and drivers
- General liability - Protects your business in the event of injuries to non-employees and their property
- Property - Protects against damage to or loss of your business property
- Robbery and safe burglary - Covers losses due to burglary or robbery
- Worker's compensation - Coverage is required by all states and is necessary in the event your employees become injured while on the job
Also, if the location of your business is leased or if you rent equipment for your business, the terms of your leases may require specific insurance coverage.
How Much Commercial Insurance Is Needed?
Assess the nature of your business to determine how much coverage is sufficient for your business. For example, when considering how much liability insurance you need, evaluate your professional duties, the use of the premises, and the number of persons accessing the property. For property insurance, take into account your contractual obligations and the value of the property to be insured. You must also factor in any insurance requirements mandated by state law.
How Much Does Commercial Insurance Cost?
Commercial insurance costs can differ from company to company and depend on your coverage needs.
Does My Business Need a Lawyer to Assess My Commercial Insurance Needs?
Deliberation of many factors is necessary to determine the specific commercial insurance needs of your business. An attorney familiar with your state¿s laws can help you determine what kind and how much commercial insurance coverage you need.
Consult a Lawyer - Present Your Case Now!
Last Modified: 11-22-2011 04:24 PM PST
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