Business Insurance

Business Insurance

Liljenberg Insurance

Liljenberg Insurance

When you own a business, you are responsible for not only making money and keeping the business healthy, but you are also the one held responsible for anything that goes wrong due to your business itself or the employees that you hire. Due to this, you want to be sure that you consider some type of business insurance.

Is Business Insurance a Necessity?

No matter what size of business you have, you want to protect your investment. Not only are you taking care of your own business, but also your own personal finances. If your building is destroyed or if someone was hurt in your business or due to your business, you could be held responsible legally, which could mean a huge financial impact to not only your business finances, but your personal finances as well.

How Business Insurance Works

The risk is shared between a group of business owners in business insurance. When you pay the premium, the company or provider invests this money to create a pool that is used if one of the included businesses files a claim. This can help decrease losses.

Types of Business Coverage

Business insurance comes in a few different policy varieties. They include:

  • Property Coverage. This policy protects the premises of the building if it is damaged or lost. Repairs, rebuilding, and replacing property are the function of this type of policy.
  • Liability Coverage. This type of policy covers your business in the case of legal action of someone who is injured at your business or due to one of your employees. Liability coverage protects your finances against judgments or penalties.

Other coverage includes:

  • Commercial auto insurance
  • Workers compensation insurance
  • Business Interruption insurance
  • Disability and life insurance

Business Insurance Benefits

A major benefit to having business insurance coverage is that your business is protected against many of the risks. From fire to lawsuit to theft and more, business insurance can pay huge dividends in the long run, versus the cost of premiums. Find a business coverage type that will work for you and your business particular needs.