The Importance of Commercial Insurance for Small Businesses

Commercial Insurance

A small business needs to be proactive about protecting itself against the possibility of a sudden loss or some form of liability exposure.  Obtaining a commercial insurance package policy is a fundamental part of any small business’ management.

Key Elements of Commercial Insurance

You don’t need to become an insurance expert before getting insurance for your business, but you need to understand some of the basics of commercial insurance coverage so that you can get a general sense of what you need when you reach out to an agent for help. Generally, more than one type of policy is needed to insure a business’ operations. You will likely need to build a package that includes the following types of policies:

Additional Policy Indorsements

Depending on your business’ activities, you may need additional protections to fully safeguard your business against loss and liability.

  •       Auto insurance for company vehicles
  •       Directors and officer’s insurance to protect board members and corporate officers from individual liability
  •       Professional liability insurance to protect companies that offer professional services in a specialized field

Work with an insurance agency that is experienced in serving small businesses in your industry for guidance about how you can structure a commercial package that meets your business’ needs.

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