If you own a business, you’ll need to have commercial insurance. Commercial insurance is very different from other insurances you may have such as homeowners insurance or auto insurance. Keep reading to learn what commercial insurance is and what it covers.
Let’s start with what commercial insurance is. Commercial insurance protects your business from financial loss caused by specific events.
There are different policies that come into play depending on the circumstances of the loss.
Here are a few common forms of commercial insurance you may need.
- Property insurance. This type of commercial insurance covers events that could cause damage to your property such as fire and flood.
- Workers compensation. This insurance covers your employees if they are injured on the job. It will cover their medical bills, pay while out of work, and you from being sued.
- Errors and omissions. This is extra protection in the event of a mistake.
- Cyber liability insurance. This will protect you if you experience cybr-related issues.
To learn more about commercial insurance, the different categories within commercial insurance, and what types of insurance your business needs, watch the video above!