Commercial Insurance: What It Is and Why You Need It

Do you own your own business? If so, you will want to consider investing in commercial insurance. Operating your company takes a lot of time as well as a lot of money and energy. Because you want to protect the investment that you make, you need to make sure you have the right insurance coverage; this is where commercial insurance comes into play. Different types of commercial insurance will, of course, provide various types of coverage. Let’s take a look at four protections that most commercial insurance policies provide:

  • Third-party lawsuits
  • Customer injuries
  • Property theft and damage
  • Client lawsuits

No, commercial insurance is not going to protect you as the business owner against everything, but it can be a lifesaver in many events. Take for example that someone breaks into your business and steals all of your company laptops. Not only have they stolen valuable property, but they have also stolen valuable virtual property, such as important financial information stored on the laptops. With commercial insurance, you can rest assured that your assets are covered under a variety of detrimental events. 

When you invest in a commercial insurance policy, there are three primary aspects to look at. First, you will want to look at the policy’s deductible. Most deductibles are relatively expensive, but concerning the coverage provided, the deductible is well worth what you receive. For example, if you have a $250,000 claim and your deductible is $14,000, then the compensation you receive beyond your deductible is well worth what you have to pay out of your pocket. The two other parts of the policy that you will want to look at are the policy limits and any exclusions. 

To learn more about commercial insurance, contact H2M Insurance today serving the Atlanta and Winder, GA area.