There are many different types of insurance coverage available, and each one serves a different purpose.
- Property Insurance
Doesn't matter if a company owns or leases its space; property insurance is necessary. This insurance covers your equipment, signage, merchandise, and furniture in a fire, storm, or theft.
Earthquakes and floods are frequently excluded from typical property insurance policies. If you reside where these issues are widespread, speak with your insurer about purchasing supplemental coverage.
- Commercial Property Insurance
Commercial property insurance protects the building and equipment you need to run your business, whether you own it or rent it.
This insurance does not cover earthquakes and flood damage. You'll probably need a second policy, such as commercial flood insurance, to protect your company from these claims.
- Professional Liability Insurance
Errors and omissions (E&O) insurance protects a corporation from claims of negligence originating from mistakes or failure to perform.
This is not one-size-fits-all insurance coverage. Each industry faces its own set of issues, addressed through a policy tailored to each organization.
- Business Income Insurance
If you have problems running your business due to covered property damage, business income insurance can help you recoup lost income. As a result, you can use this coverage to pay rent, energy bills, and wages. This form of coverage is often known as business interruption insurance.
- Workers Compensation Insurance
When a company hires its first employee, workers' compensation insurance should be added to the policy. If an employee is wounded or dies while working for that company, this will cover medical care, disability, and death benefits.
Slip-and-fall incidents or medical concerns like carpal tunnel syndrome can result in a costly lawsuit, even if employees appear to be performing low-risk duties.
Whether you are in your company, getting the right business insurance is crucial. Having the right insurance in place, a company can avoid a huge financial loss due to a lawsuit or a catastrophic event.
At Brad Spurgeon Insurance Agency Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (409) 945-4746. Get your free quote today by CLICKING HERE. Any coverage discussed is not guaranteed. Please contact us today to go over your policy to ensure your needs are met! We are here and happy to help.