Business Insurance Types
- General Liability Insurance: Protects businesses from negligence claims.
- Business Income Insurance: Helps protect finances if unable to operate due to a covered loss.
Business Owner’s Policy
A business owner’s policy bundles coverage like general liability, property damage, business interruption, and workers’ compensation.
Types of Commercial Insurance
- General liability insurance
- Professional liability insurance
- Cyber liability insurance
- Commercial auto insurance
- Workers’ compensation insurance
- Business owners policy (BOP)
The Two Most Common Types of Commercial Insurance
- Property Insurance: Protects your company’s physical location and business property.
- Liability Insurance: Helps cover lawsuits against your business.
Types of Insurance Policies
- Term Life Insurance: Offers coverage for a specific term, typically 10, 20, or 30 years.
- Whole Life Insurance: Provides lifelong coverage and accumulates cash value over time.
General Insurance
General insurance covers unexpected events like natural disasters, lawsuits, or employee injuries. It safeguards assets and financial futures. Types include liability, property, package policies, and insurance for startups. Companies evaluate needs based on potential risks.