​​8 Types Of Business Insurance

​Business Insurance protects businesses and companies from many risks they may face during their normal operations. However, there are many insurance types for business owners to choose from.

Here are the 8 types of insurance that can protect your business.

1. General Liability Insurance
   This insurance covers the usual risks faced by most businesses, such as body injuries of customers and from advertising and property damage. It can also insure small businesses from costly lawsuits and aid in acquiring contracts and leases.
   
   
2. Commercial Property Insurance
   This insurance covers properties and equipment from several disasters. There are numerous property and equipment types to consider for this insurance. Many factors like occupancy and area are considered to determine the insurance cost.
   
   
3. Professional Liability Insurance
   This insurance covers fees from claims made against professional people. It also insures the economic losses that result from consultations and services given to the clients. Financial support is also covered to meet the expenditures of defending such legal actions.
   
   
4. Business Income Insurance
   This insurance covers unexpected events like vandalism, fire, storm, and damage from all vehicles, leading to serious physical damage and loss that may hinder your business operations. 
   
   
5. Worker’s Compensation Insurance
   This insurance serves to assure medical care to injured workers. It provides compensation for the income they may lose during the period they cannot go to work temporarily. Thus, employees who are injured during work are also protected from lawsuits under this insurance. 
   
   
6. Commercial Umbrella Insurance
   This insurance provides additional coverage to pay for costs that already exceed its limits. It ensures that you don’t have to use money directly from your pocket when the liability incurred is already beyond the limits of your coverage. Medical and legal expenses, property damage, and settlement are included here.
   
   
7. Data Breach
   Different organizations avail this insurance to protect their financial interest when data is lost. There are many reasons why data breach happens, and hacking and lack of strong cybersecurity procedures are the main ones. 
   
   
8. Commercial Auto Insurance
   This insurance is created to cover the company’s repair expenses and the driver’s medical expenses in an accident. The policies will determine covered claims, declared limits, and deductibles.

Getting a Business Insurance Is a Good Investment

At Desmond Insurance, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (859) 491-5100 or Click Here to request a free quote. Coverage discussed in this article is not guaranteed. Please chat with one of our agents to understand your coverage and make sure your needs are met. We are happy to help!