Commercial insurance is a type of insurance policy designed to protect businesses and their assets from financial losses resulting from various risks such as property damage, liability claims, and loss of income. Commercial insurance policies can be customized to fit the specific needs of individual businesses, depending on the type of business, the size of the company, and the industry in which it operates.
Types of commercial insurance:
Property insurance: This type of insurance covers damage to your business property such as buildings, equipment, and inventory caused by various risks such as fire, theft, and natural disasters.
Liability insurance: This type of insurance provides protection against legal claims that may arise due to injuries or damages caused to third parties by your business operations.
Business interruption insurance: This type of insurance covers loss of income and extra expenses resulting from a business interruption caused by various risks such as fire, natural disasters, and other types of events.
Workers' compensation insurance: This type of insurance provides benefits to employees who are injured or become ill while performing their job duties.