TUESDAY, JUNE 24, 2014
Whether you own a large company with hundreds of employees or you run a small business out of your home, you must protect yourself and your assets with business insurance. Below you'll learn about the various types of insurance policies available to business owners.
This type of insurance covers the cost of damages to your office building and your office property inside the building. Types of business property covered may include computers, office furniture and business inventory. This policy covers damages caused by fire, smoke, theft or vandals.
General Liability Insurance
If a customer gets injured inside your building or on your property, general liability insurance will protect your business if a lawsuit is filed against you. This type of policy covers the cost of your lawyer fees and any damages awarded to the customer, including the medical bills due to the injury.
Commercial Auto Insurance
If you or your employees drive work trucks or vans, you must carry commercial auto insurance. This policy covers damages to your work vehicles in the event of an accident.
This type of insurance pays the wages and medical costs for employees who are injured while at work. When you have this kind of insurance, an injured employee cannot sue you because of the injuries sustained on the job (with limited exceptions).
Business Owners Policy (BOP)
Many business owners choose to purchase a business owners policy, which is a bundled package of all the necessary insurance a business owner needs. Although BOP policies can vary due to each company's needs, they typically include property damage, liability and commercial automobile coverage. This is a popular option for business owners because they can save money when purchasing a bundled package.
Now that you know about the different types of business insurance, you'll be more informed when you purchase your policies. Your insurance agent can answer any questions you may have and offer recommendations on the amount of coverage you need for your business.
Protect your livelihood. Call Pickard Insurance Agency at (817) 461-4781 for more information on Arlington business insurance.
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