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General Liability
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This policy protects your business in case of third party claims, such as bodily injury or property damage. For example, the common "slip-and-fall" claim would be covered by your General Liability policy.
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General Liability insurance is often considered to be the core coverage, particularly for businesses that regularly physically interact with customers or sell physical goods. In addition, many businesses have a contract, like a loan or a lease, requiring that they have this coverage.
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What is it:
This policy protects your business in case of third party claims, such as bodily injury or property damage. For example, the common "slip-and-fall" claim would be covered by your General Liability policy.
Why get it:
General Liability insurance is often considered to be the core coverage, particularly for businesses that regularly physically interact with customers or sell physical goods. In addition, many businesses have a contract, like a loan or a lease, requiring that they have this coverage.
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Workers Compensation
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Workers Compensation covers an employee's lost wages and the cost of resulting medical treatment if they suffer a work-related injury or disease. It also covers services needed to help the employee recover and return to work.
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Workers Compensation coverage is mandatory in most states. The number of employees after which it's required differs by state, but you will generally need coverage once you have employees.
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What is it:
Workers Compensation covers an employee's lost wages and the cost of resulting medical treatment if they suffer a work-related injury or disease. It also covers services needed to help the employee recover and return to work.
Why get it:
Workers Compensation coverage is mandatory in most states. The number of employees after which it's required differs by state, but you will generally need coverage once you have employees.
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Inland Marine
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Inland Marine insurance covers goods in-transit either on land or through shallow water, as well as certain types of movable property (such as medical equipment).
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If your business has valuable equipment which regularly needs to be moved, then this can be a core policy to protect your property.
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What is it:
Inland Marine insurance covers goods in-transit either on land or through shallow water, as well as certain types of movable property (such as medical equipment).
Why get it:
If your business has valuable equipment which regularly needs to be moved, then this can be a core policy to protect your property.
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Commercial Auto
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Commercial Auto insurance provides coverages such as liability, collision, comprehensive, medical payments and uninsured motorist coverage.
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Any vehicle on the road must be insured, and any incidents that occur while a vehicle is being used for business purposes may not be covered by a personal auto policy. That's why it is so important to make sure you have Commercial Auto insurance for any vehicles owned by the business.
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What is it:
Commercial Auto insurance provides coverages such as liability, collision, comprehensive, medical payments and uninsured motorist coverage.
Why get it:
Any vehicle on the road must be insured, and any incidents that occur while a vehicle is being used for business purposes may not be covered by a personal auto policy. That's why it is so important to make sure you have Commercial Auto insurance for any vehicles owned by the business.
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Hired & Non-Owned Auto
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This insurance protects the business in the case of any incidents involving a vehicle that has been hired by the company to be used for business-related purposes. It also provides coverage in the case your business uses other vehicles which are not property of the business, such as having delivery drivers use their own vehicles.
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If your company hires vehicles or allows employees to use their own vehicles for business purposes, you will want to consider this insurance.
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What is it:
This insurance protects the business in the case of any incidents involving a vehicle that has been hired by the company to be used for business-related purposes. It also provides coverage in the case your business uses other vehicles which are not property of the business, such as having delivery drivers use their own vehicles.
Why get it:
If your company hires vehicles or allows employees to use their own vehicles for business purposes, you will want to consider this insurance.
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