Business insurance coverage protects businesses from losses due to events that may occur during the normal course of business. There are many types of insurance for businesses including coverage for property damage, legal liability, lost of business income and employee-related risks. At Seabrokers we help to evaluate your insurance needs based on potential risks, which can vary depending on the type of environment in which the company operates.
Among the most popular business policies is a Business Owner’s Policy (BOP). A BOP generally includes business property, general liability and business income coverages in one policy. Combining these coverages can help save you money and it’s convenient.
Business property insurance helps protect your business's buildings and personal property. This might include furniture, tools, equipment and inventory.
Business income insurance helps replace lost income if you close temporarily due to a covered loss like theft or property damage from a fire. It can also help you continue paying expenses while your property is replaced or repaired.
Professional liability insurance helps cover costs related to claims that your business made errors in providing its services. For example, if you make a clerical error and it causes a client to lose thousands of dollars, professional liability insurance can help cover the costs if the client makes a claim. A business doesn’t need to do anything wrong to be sued. Depending on the scenario, coverage would apply to defend a business if sued.