Business insurance, also called commercial business insurance or commercial insurance, is insurance coverage designed to cover a business, including its employees and ownership. There are a wide variety of different types of business insurance available.
Having the right commercial insurance policies is a significant component of a comprehensive risk management strategy that can help protect your business’s finances. Our agency is here to help you with all of your business insurance needs. Call Cormack-Routhier Agency, Inc. today to learn more or to get a free, no-obligation quote.
Business Insurance Policies
Every business’s insurance needs vary and may be influenced by company size, location, number of employees and industry. A few standard policies businesses may carry include the following:
- Business property insurance—Also called commercial property insurance, this coverage helps pay for damages to your company’s equipment and property after a covered accident or incident.
- Business interruption insurance—If your business must shut down or cease operations due to a covered incident, this coverage can help replace lost income and pay for extra expenses incurred during the shutdown.
- Professional liability insurance—This type of policy provides coverage if anyone makes a claim of negligence, misrepresentation or inaccurate advice against your business.
- Workers’ compensation insurance—This coverage can help employees who become injured or ill due to a work-related incident receive replacement income, medical benefits and other financial assistance if they cannot work. Most states require that employers carry workers’ compensation insurance.
- Builders Risk
- Commercial Package
- Commercial auto insurance—If your company has vehicles, you will likely need to secure a commercial auto insurance policy to properly insure any fleet members or employees who are drivers for your organization.
- General liability insurance—A policy can provide coverage for claims of bodily injury or other physical injuries, personal injury (libel or slander), advertising injury and property damage. It can be offered as a package policy with other coverages such as property, crime, automobile and more.
- Marine Insurance—is meant to provide both inland and ocean marine coverage. When your business transports property, you want that cargo to be covered every step of the way. Marine coverage provides protection throughout the entire transport
- Condo Association Insurance—provides critical coverage beyond unit owners’ private residences. For those in charge of a condo complex, risks and hazards may abound.
- Contractors Insurance—Whether you are a general contractor or an artisan contractor, business insurance can provide coverage for several exposures, which can help reduce your out-of-pocket burden. The coverages contractors select vary.
- Restaurant Insurance—is a group of policies tailored to meet your establishment’s potential financial needs after a covered event.
- Trucking—All owner-operators and trucking companies must carry commercial auto insurance with adequate liability coverage. This insurance helps protect the owner-operator or motor carrier from liability lawsuits if the truck driver causes an accident resulting in third-party injuries or property damage.
Depending on your business and industry, you may need to purchase other insurance policies for proper coverage. Contact Cormack-Routhier Agency, Inc. today to discuss your insurance needs.
How to Get Business Insurance
If you need business insurance solutions, we’re here to help. Give Cormack-Routhier Agency, Inc. a call today to get started.