What Is Covered Under My Small Business Insurance Policy?

Common Small Business Insurance Questions: What is covered under my small business insurance policy? The price of small business insurance largely depends on the place, industry, policy limits and many other factors affecting your small business insurance premiums. There are several types of small business insurance policies available, which include general liability policies, health and accident policies, disability income policies, property protection policies, environmental protection policies, theft and loss policies, litigation payouts and loss prevention and audit coverage. There are also additional policies like buildings coverage, professional indemnity coverages, loss of business assets, loss of life or limb and critical illness policies for small businesses. Each type of insurance has different premiums and coverage limits, so you need to discuss these points with your agent very clearly before buying any insurance policy. Get more interesting details about small business insurance on this site.

How do I make my small business insurance policy work for me?

Every business owners have to deal with unexpected risks from time to time. For example, if you are a small business owner who owns a fleet of vehicles, then you will most likely have costly damages claims while waiting for your vehicle to be repaired, and your repair costs could get higher than your vehicle's worth. Therefore, it is essential that every business owners use sound financial planning techniques, and they must also protect their small business assets, such as their cars, to minimize their risk exposure.

One policy that every commercial auto insurer must have is Workers Compensation. This insurance protects the employees of a business against injuries incurred on the job that results from negligence or wrongful acts on the part of a company employee. If an employee is injured on the job, he or she can file a claim for workers' compensation. The size of the claim depends on many factors, such as the nature of the injury and its impact on the daily work patterns of the employee, as well as the extent of the damage.