Why is Commercial Insurance Important to Have?
Commercial Insurance in Houston
Commercial Insurance is essential for business owners whether they own a small business or a large corporation. This type of policy can help protect you from various issues such as property damage, theft, liability charges and employees injured while on the job.
When you take out the right type of Commercial Insurance plan, you can quickly recover from a loss. If you experience a fire or someone hurts themselves on your premises without this type of coverage, you may end up losing everything you have worked so hard to build up.
The 3 Main Types of Commercial Insurance
There are three main types of Commercial Insurance; Liability, Property, and Worker’s Compensation. It is crucial that all business owners have at least one if not all three, of these insurance plans.
Liability Insurance
Liability insurance will provide you protection from damages that your company causes to another party. It can include defective products or an accident that occurred to a visitor at your business location. It will cover the cost of any personal injury or property damage lawsuits you may endure.
Liability insurance can help your company avoid bankruptcy if there is ever a lawsuit placed against you.
Property Insurance
Property insurance offers coverage for damage to your property due to fire or flooding. There are also policies that will cover costs associated with damage due to theft or vandalism.
To find out more about what a specific commercial property insurance policy covers, be sure to discuss the details with your agent before making a final decision.
Worker’s Compensation
Worker’s Compensation protects your employees if they become injured while on the job. It will also protect you, the business owner, from any lawsuit that could be filed by an injured worker.
While all three types of coverage are important, Worker’s Compensation is often viewed as the most important because it secures good faith between the employer and the employee.
Source: protectiveagency
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