What Kind Of Insurance Do Businesses Need

If you're running certain types of businesses, you may need or want an industry specific insurance package. This might be a BOPs that's written based on the type of industry you are in, giving additional types of protection against things such as data loss, for example. Or it could be a heaver-duty commercial package.. Business owners should evaluate their insurance needs for pollution liability and other types of environmental insurance. Pollution liability insurance is an important coverage for independent contractors.. Different Types of Business Insurance A BOP is a good foundation for business insurance. This policy combines the three types of insurance necessary for businesses, including: General liability insurance to help protect your business from liability claims.. Most businesses need liability insurance. But, there are several different types of liability coverage. The most common are general liability and professional liability policies. General liability insurance helps cover claims that state your business caused bodily injury or property damage.. If you’re asking yourself, “why do businesses need insurance?” The answer is: because accidents can happen at any time. And when they do, business insurance helps pay for damages you’d otherwise have to cover out-of-pocket..

You can purchase property insurance on its own, but because you own a small business, you may be able to bundle your property and general liability coverage together in a business owner's policy (BOP), which can save you some money on your premiums.. Which Main Type of Insurance Do I Need?## While a general business insurance policy will coverage most of your insurance needs, there are three main types of business insurance that you need specifically for your cleaning company: 1. General liability insurance### This provides you with protection in the event that your business causes property ....

“I generally suggest that businesses I work with carry at least General Liability Insurance,” says Adam Scavone (@adamscavone), an attorney at Scavone Law Firm. Good advice, considering it can protect business owners against third-party personal injury and property damage claims, as well as advertising injuries. 2. Professional Liability Insurance:. General Liability: Another type of insurance that all home-based businesses should have is additional general liability insurance. If your aunt is visiting and falls and breaks her leg, your homeowner's policy will cover it; if a client is visiting and falls and breaks their leg, it won't..