| There are a variety of commercial insurance | | | | Some of the commercial policies that may be |
| policies that will cover your business. From | | | | necessary include: |
| property and liability to workers compensation, | | | | Business interruption, which reimburses projected |
| many companies offer packages that may cover | | | | income and expenses that are lost because of |
| your standard business needs. Property insurance | | | | extensive property damage or theft while |
| provides coverage for rebuilding after damage has | | | | business is interrupted. |
| occurred to the property, such as flooding or fire. | | | | Debris removal which is a type of business |
| Liability insurance protects against lawsuits or | | | | property insurance that covers the expenses for |
| other claims that may be brought against the | | | | removing debris after damage has struck but |
| business, and workers compensation covers | | | | before rebuilding can occur. |
| injuries that may occur to employees while they | | | | General liability, a type of business insurance that |
| are working. | | | | covers legal expenses incurred because of |
| According to the American Bar Association, a | | | | damages, injuries, and negligence. |
| business owners' policy-or BOP-will cover most of | | | | Glass -protects the financial risk of broken |
| the common risks of small businesses like | | | | windows. |
| homeowner's protection covers an individual's | | | | Home-based which will offer additional protection |
| property. Additional business insurance may be | | | | in the event that a homeowner's policy does not |
| added to a BOP to cover specific needs like | | | | include general or professional liability coverage. |
| business interruption cover if these are not | | | | Product liability-that covers the risk a company's |
| already included in the plan. Purchasing a BOP will | | | | product may be defected and cause injury or |
| help keep premiums down, as the coverage is | | | | bodily harm. |
| lumped into one policy rather than separate | | | | Professional liability-, also known as errors and |
| policies with individual premiums. The National | | | | omission insurance, protects against malpractice or |
| Federation of Independent Businesses offers | | | | errors in rendering services to clientele. This may |
| additional information to assist you in determining | | | | be required in some states depending on your |
| the types of business insurance your business | | | | profession, i.e. physicians are required by law to |
| requires. | | | | have professional liability insurance. |