Types Of Insurance To Protect Your Business
From the first day of the business,
an entrepreneur should be careful about the uncertainties which can arise
anytime. It is important for a company to apply for commercial insurance Houston to make sure any expense cannot make
a burden for their business. Here are some types of insurance that a business
must have opted for.
·
Professional liability insurance
This insurance covers a business
against carelessness claims due to harm which results from failures and
mistakes. Every industry has its own set of concerns that will be addressed in
a customized policy written for a business. It is also famous as errors and
omissions insurance.
·
Vehicle insurance
The vehicles used for company purpose
should be fully insured to protect it from any accident liability. Any kind of
damages in the accidents for the official purpose should be covered by the
insurance companies. One more thing, if an employee is using his/her personal
vehicle for official use, he/she cannot claim for the insurance. Apart from
this, they can use their personal insurance for this situation.
·
Property insurance
Property insurance is a must for
every business. This covers signage, furniture, equipment, and inventory in the
situation of theft, fire or storm.
·
Product liability insurance
If your business produces the product
for sale on the market, there must be a product liability insurance to ensure
the products are safe. This insurance works to protect your business with
coverage available to be tailored to an individual kind of product.
·
Home-based businesses
Many professionals begin their
business in their homes. However, home owner’s policies do not cover as home insurance
Houston does. If you are starting your business from your
house, ask your insurer about that to cover your inventory and equipment.
·
Workers’ compensation insurance
Once the employees have been hired,
the compensation insurance of workers should be added to the insurance policy
of the business. This insurance will
cover death benefits, medical treatment, and disability of the employees. Even if employees are performing low-risk
work, fall or slip injuries can also be claimed in this insurance.
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