A Better Understanding of Commercial Insurance
A commercial insurance policy is typically comprised of more than one policy. The different types of coverages that a business owner will need will be determined by the form of business being operated as well as other factors, including location, number of employees, etc. A significant portion of basic commercial insurance policies include the following types of coverage options:
- Property Insurance
- Liability Insurance
- Commercial Auto Insurance
- Crime Insurance
Various forms of optional coverage include:
- Equipment Breakdown Insurance
- Workers Compensation
- Business Interruption Insurance
Many businesses also need surety bond insurance. If you need this type of insurance, you will need to speak with a qualified insurance agent to customize the policy to meet your specific needs. Surety bond insurance is purchased to show customers you are entirely devoted to fulfilling the terms of any agreements you have with them. In the event you fail to complete the agreement, your surety bond insurance will kick in to compensate the customer for the loss. This type of insurance also proves to be of value when a business faces loss derived from a court decision.
To learn more about commercial insurance coverage and the various policies you need to invest in as a business owner, contact Proficient Services today.
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