What Is Business Insurance? - howmanytypesofinsurance

Business insurance coverage protects businesses from losses due to events that may occur during the normal course of business. There are many types of insurance for businesses including coverage for property damage, legal liability and employee-related risks.

Companies evaluate their insurance needs based on potential risks, which can vary depending on the type of environment in which the company operates.

Understanding Business Insurance
It is especially important for small business owners to carefully consider and evaluate their business insurance needs because they may have more personal financial exposure in the event of a loss. If a business owner does not feel he or she has the ability to effectively assess business risk and the need for coverage, they should work with a reputable, experienced and licensed insurance broker. You can obtain a list of licensed agents in your state through your state's department of insurance or t
he National Association of Insurance Commissioners.

Also known as commercial lines insurance, these coverages include property and casualty insurance products for businesses. Commercial lines Insurance helps keep the economy running smoothly by protecting businesses from potential losses they couldn’t afford to cover on their own, which allows businesses to operate when it might otherwise be too risky to do so.

Commercial policies may be contrasted with personal lines insurance.

Types of Business Insurance