Owning a business is a thing of pride. One gives their blood and sweat to make a business profitable. Nobody wants something unplanned to take away the profit from their business. That’s why smart businesspersons do business insurance. It is a great way to save what you make, and keep the company going even in times of crisis.
There are many crises a company may face. It may be a natural disaster like flood, tsunami, earthquake, or a fire. In such cases, am insurance acts as a safety net. It protects the company. iselect is an insurance company that provides travel as well as business insurance for big, medium, and small businesses. They provide tailor-made policies that suit your business needs. Every business owner must have some essential insurances in place, here are some of them –
General Liability Insurance
Any business, may it be home-based or significant need to have General Liability insurance. It is an insurance that covers the damage as well as the defense caused by your company. This insurance applies in a situation when your employee or business causes Bodily Injury or Property Damage to a third party. In such cases, if the third-party claim liability or files a lawsuit, General Liability insurance covers you.
Auto Insurance
In case your company has a vehicle, like a van or truck, you need to have commercial auto insurance. It covers the damage that your vehicles may face in the future. If your employees don’t use company vehicles and use their own vehicle, then you can insure that as well as non-owned vehicles. Auto insurance keeps your vehicles safe, like trucks, carrier, and cars. In case of accidents, or damage, you will have a cover.
Property Insurance
Every business has a property put in which they work. A property insurance protects the office equipment, the building, the documents, and any property related to your business in case of fire, vandalism, theft, or smoke damage. The insurance money you pay covers for the damage done to the property and helps recover it.
In case of emergencies like a fire or vandalism, there is an interruption in business. Your business can’t go on like normal, and it takes time to bounce back. That’s why it is important to also insure for business interruption under the property damage policy. Business interruption insurance covers for the profit, your business would have made if it worked during that time.
Business Owner Packages
Business owner packages are a perfect way to insure your business. You don’t need to take individual policies, but you can take a package that includes all the policies. You can even request the independent insurance agents to customize the BOP according to your business needs.
Business Insurances are a vital part of a company’s security. You need to do a proper risk assessment before getting insurance. Independent insurance agents can do the underwriting for you. They will study your business and recommend what’s the best policy for you.
