Business insurance is nothing more than the managing risk among many business owners. The insurance companies take premiums from covered companies, invest those payments and generates large amount of money and pay to business to cover losses.
The different types of business insurance are:
The different types of business insurance are:
- General liability insurance: General liability insurance covers bodily injury, property damage, and medical expenses.
- Product liability insurance: Product liability insurance gives protection against financial loss as a result of faulty product that causes injury.
- Professional liability insurance: This type of insurance coverage protects your business against malpractice, errors, and negligence in services to your customers.
- Commercial property insurance: Property insurance gives protection against the loss or damage that occurred to company property due to fire, flood, smoke and vandalism. The company property includes lost income, business, interruption, buildings, computers, money, and company papers.
- Home based business insurance: Home insurance does not cover the home based business activities. For covering the home based businesses you may need to buy the additional policies like general and professional liability insurance.
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