What is Business Insurance and Types of Business Insurance - Select Insure

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Business Insurance
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What is Business Insurance?

• Business insurance protects businesses against
  losses suffered in the course of their
  activities, particularly if they face
  compensation claims.
• Business Insurance can provide cover for your
  business premises and contents, against loss,
  damage or theft, also offering protection against
  financial loss experienced from an insured
  interruption to your business.

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Types of Insurance for Business

• Professional liability insurance
• Property insurance
• Home based business
• Vehicle insurance

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Breaking Down Business Insurance

• Especially significant for small business owners
• If a business owner does not feel he or she has
  the capability to valuable assess business risk
  and the required for coverage, they should work
  with a trustworthy, experienced and licensed
  business insurance broker

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Professional Liability Insurance

• Insures against negligence claims that
  result from mistakes or failure to execute
• Each industry has its own customised concerns
  that should be addressed

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Property Insurance

• Covers equipment, signage, inventory and
  furniture in the event of hazards like a fire,
  storm or theft
• Doesn't cover mass-destruction events like floods
  and earthquakes
• If your area is at risk for these issues, you'll
  required a separate policy

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Home-based Businesses

• Dont cover home-based businesses like commercial
  property insurance covers businesses
• A home-based business, inquire about extra
  coverage for equipment and inventory

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Vehicle Insurance

• All the vehicles should be fully insured
• Businesses should insure against third-party
  injury, but inclusive insurance will cover
  the vehicle in an accident
• If employees are using their own vehicles for
  business, their own personal insurance will cover
  them in the event of an accident

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