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If you own a business, any business, you need insurance. Do you have property you can't afford to replace if it's lost or damaged? Could you be faced with a lawsuit? If either of these is true for you, you should protect yourself and your business with a business insurance policy. There are several basic insurance coverages we recommend you consider as a business owner.
Commercial auto insurance or business auto differs significantly from personal auto insurance. Coverage needs depend on a variety of factors. Commercial auto coverage insures vehicles that are owned, leased, hired, or borrowed by businesses, whether they are associations, corporations, partnerships, or sole proprietorships.
Protecting your business property with commercial property insurance ensures your peace of mind if a disaster occurs. In case of catastrophes like fire, explosion, theft, or vandalism, property insurance helps cover your costs. Imagine a fire breaks out and you lose your entire inventory. Or your business is burglarized causing physical damage and possibly lost assets.
Workers compensation insurance provides coverage for medical expenses, rehabilitation costs, and lost wages for employees who are injured or become ill at work. This coverage is required by most states and can be the most expensive line of insurance for most employers. Trick question - every business does.
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