There are some types of insurance policies designed specifically for businesses that you can’t afford not to purchase if you want your business protected. It doesn’t matter whether your company makes widgets, rents homes and apartments, or is a consultation firm operated out of your home.
The cost of doing business can be expensive and many individuals are tempted to forego essential commercial insurance services they need. Insurance companies utilize multiple factors to determine the cost of your commercial policies encompassing the type of company you have, location, years of operation, number of employees, payroll, and risks within the particular industry.
You’ll have deductibles from which to choose. This is the amount you’ll have to pay when you file a claim. Commercial policies may have maximum amounts they’ll cover for each claim and there will be exclusions that the policy won’t cover. Get at least 3 different quotes and make sure you know exactly what the costs, coverage limits and exclusions are for each type.
Commercial auto policies cover vehicles owned by the business that are used to conduct commerce. It can also cover employee vehicles used to conduct business while they’re legally working for the company.
This insurance protects equipment and buildings owned, leased or rented by the company that’s used in the business’s operation.
If a person is injured on the business property or damage is done to their property, general liability insurance helps cover those costs.
The insurance provides medical coverage for employees that are injured at work. It also provides employee benefits encompassing a portion of their lost wages if they can’t work, disability and funeral expenses.
The insurance covers businesses if they’re the target of cybercriminals and a breach occurs. It reimburses businesses for expenses that includes legal counsel and defense, notification costs, digital forensics team, credit monitoring for those affected, and setting up a call center.
Commercial business insurance provides protection against loss of revenue for circumstances beyond the owner’s control ranging from supply chain issues to storms that force the business to suspend operations.
Known as errors and omission insurance, it protects businesses if a mistake is made in the services it provides. It includes payment of legal fees if the owner is sued for negligence.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
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The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487