Business Insurance Policies: Which Ones Should You Get?

Autos & TrucksInsurance

  • Author Johnson Ruler
  • Published July 31, 2011
  • Word count 611

A lot of things can happen when you're in business. It can go bankrupt, you can get sued, you can be hunted by creditors, and you business can close because of disasters. Regardless, you want to protect your assets and investments. You can do that by getting a business insurance policy.

Usually, when you require insurance, you always request for a Bear River insurance quote. But you want to be very specific. Here are some of the types of insurance policies you can obtain:

General Liability

This is one of the most common business insurance policies in the market and definitely one of the often-discussed ones by Bear River insurance agents. As its name suggests, it covers you from any type of liability brought about by another person, such as your worker, partner, or anybody. You can use it to cover for your litigation, bonds, and medical expenses. It is commonly used if you're accused of slander, libel, or even wrongful death and negligence.

Professional Liability

This is a specific type of liability insurance coverage and is recommended to professionals who offer their services such as doctors, nurses, therapists, interior designers, engineers, and architects. You make use of this to cover costs associated with malpractice, omissions, misrepresentations, negligence, and almost all kinds of errors.

Some states would require some professionals to obtain a professional liability insurance policy. One good example is the doctors. They cannot practice their jobs unless they have malpractice insurance. In the process, this curbs illegitimate practices or scammers, as only those who are certified by the state can apply for such insurance.

Worker's Compensation

Almost all states in the country require legitimate businesses to carry a worker's compensation insurance policy. The coverage can be used to pay for the medical expenses and wage losses obtained by the worker because of an injury or disability. The amount of the coverage, however, can differ as there are some factors that are considered. These include the type of work performed and the employee's present salary. Moreover, the accident, injury, or disability should be related to his or her job before he or she can file a worker's compensation claim.

Internet Business

Ironically, even if there are thousands of businesses online, coverage for them is very rare. Only a handful offer an Internet business insurance policy. Usually, to protect your online business, you just need to obtain any or some of the mentioned types of coverage here.

Nevertheless, with your research, you may come across Bear River insurance agents that can discuss about insurance policies that would protect you from losses caused by viruses, online theft, or Internet fraud.

Commercial Property

There are two kinds of commercial property insurance policies available. One is called named perils. It basically lists down all types of perils or disasters that will be covered by the policy. The other is the all-risk policy, except those that are found in the terms and conditions. Which you should choose depends on you, but usually you get a named-perils policy if you're prone to such disasters. For example, if your area is close to a flood zone, you should get a named-peril coverage that mentions floods.

What does the insurance policy cover? Unless specifically stated by the contract, it covers your business equipment, office or building, money, business interruption, and even loss of income.

Product Liability

If you're into selling, manufacturing, and distributing of goods, you need to have a product liability insurance coverage. It protects you from property damage or personal injury caused by the goods you're offering. If someone sues you for breach of warranty and wrongful instructions and warnings, you can count on the coverage.

Would you like to know how to find the best Bear River insurance quote for your business insurance? Find legitimate, no-nonsense, knowledgeable Bear River insurance agents now. Go to our website and contact us.

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