No matter what kind of business you own, you need insurance to protect everything from your property to your inventory to your workers. Not all business are the same. Neither is the commercial insurance that covers them.
This is why you should turn to a reliable insurance agency that can help you choose the best option for your needs. Finally, we at the Charles Osburn Insurance Agency are experts at helping professionals and businesses of all sizes protect their livelihood.
General liability commercial insurance is a broad type of insurance that provides coverage for general business risks. It is considered the baseline of coverage that most businesses typically purchase. As a result, it protects your business from many of the common risks that can happen to any type of business. This includes personal injury or property damage that occurs on the business premises as well as incidents that happen during normal operations.
However, many businesses have needs that extend beyond what commercial general liability covers. As a result, you should consider additional types based on your needs.
Also known as a BOP, this insurance combines protection for all major property and liability risks as one form of insurance. A BOP policy combines basic coverage required by a business owner in one bundle. However, a business owner policy is generally sold at a premium less than individual coverage total cost.
A BOP may protect business owners from property damage, business interruption, peril, and liability. In most cases, business owners can sign up for additional coverage including crime, forgery, merchandise spoilage, fidelity, and other scenarios. Businesses may also get special consideration if they meet certain criteria.
Also known as PLI, it is an insurance that protects individual professionals such as lawyers, accountants, and even physicians against claims from their clients or patients. Professionals in a specific industry may be required to purchase a PLI as general liability insurance policies do not offer this type of protection. PLI can cover special scenarios like malpractice, negligence, or misrepresentation.
PLI can also be commonly referred to as medical malpractice insurance for the purpose of covering any errors, omissions, and more.
Your workers are in danger of injuring themselves on the job. It doesn’t matter if they work at a desk all day or at a factory with dangerous equipment. Accidents happen. Workers comp insurance helps protect your business against any claims made by injured workers.
Also referred to as workman’s comp, this insurance covers all reasonable and necessary medical treatment for workers who get injured in the course and scope of their employment. It also covers medical bills in the issue they experience an occupational disease. Workers comp even covers the wages a worker loses while they recuperate. The benefits and provisions for employees and employers vary from state to state, so be sure to use an insurance agent who knows your state.
