| Purchasing business insurance is not the easiest | | | | - Commercial auto - Let me stress this to one |
| thing in the world to do. As a business owner, I | | | | point before going any further. Your commercial |
| can't think of any other task that is so full of | | | | auto insurance is not the same as your personal |
| complexities, industry jargon, and intricate legalities. | | | | one. The commercial only covers vehicles owned |
| The problem is that for how confusing it may be | | | | and used by your business. Vehicles required to |
| you can't operate a business without any. | | | | be titled by your state, must have a commercial |
| Choosing the right business insurance means life | | | | auto policy. This covers against property damage |
| or death for a company. | | | | to vehicles and damage caused to others by |
| The first thing you need to do is find the right | | | | those vehicles. |
| mix of liability insurance, workers compensation | | | | - Workers' compensation - As a new business |
| insurance, and umbrella liability insurance for a fair | | | | owner one of the first things you'll learn is that |
| and reasonable price. For most business owners | | | | you will need to get insurance for your employees |
| this isn't something they do every day. Many are | | | | to cover any on the job injuries. This is referred |
| left feeling confused or intimidated. Here is a little | | | | to as worker's compensation insurance. Every |
| list of some of the more important business | | | | state requires a business to have it but each has |
| insurances you need: | | | | a different set of rules for what a business needs |
| | | | to cover. This insurance protects the employer |
| - Property insurance - This type of business | | | | from being sued by the employee due to the |
| insurance helps you out in the case of any loss or | | | | injury and the employer pays into a system that |
| damage to the location of your business as well | | | | provides the injured employee an automatic |
| as the contents inside. There are even specialized | | | | payment to cover medical bills and other |
| instances of property insurance that insure against | | | | expenses while out of work. |
| specific risks such as fire or flood for example | | | | - Life and disability - This final type of business |
| and only protect you from that type of loss. It | | | | insurance protects against the death or disability |
| also doesn't matter if the business property is | | | | of important employees. It's basically set up to |
| owned, leased or rented. | | | | cover the key employees critical to the function |
| - Liability insurance - Liability insurance protects | | | | of the business in case of death or anything else |
| your business in civil legal cases. Most of the time | | | | that could potentially handicap the business. If a |
| this insurance is used in case of a negligence case | | | | partner in the company dies then the policy can |
| due to you a business matter or employee. One | | | | be used to buy out the share of the interest |
| way to think of liability insurance is to consider it | | | | from the estate. |
| basically a negligence insurance. | | | | |