New business owners have a lot of options for advice when looking for the right business insurance policy.
They'll often phone a friend in a similar industry to see what they have for coverage and how much they're paying, or they'll try to research online to see which policies may be right for them. The best advice comes from an experienced agent.
Commercial insurance falls into the following types of policies.
• General liability policy – used for most businesses; protects against financial loss from the most common claims
• Product liability policy – used for businesses that manufacture and/or distribute a product; protects against losses resulting from defective products
• Professional liability policy – used for any business that provides professional services; protects against malpractice of that specific service
• Commercial property policy – used for businesses with property; protects against loss of that property due to a claim
• Home-based business policy – used for businesses that are operated out of a home; protects against losses that would likely be excluded under a standard homeowners insurance policy
• Business owners policy – used for small businesses; combines many features of a general liability policy and commercial property policy
Not all policies are valuable for all businesses. Talk to an agent today about the different types of insurance policies that would best protect your business.