Business Insurance

Business Insurance

In today’s world it’s tough for a business owner to remain anchored and navigate economic storms. The term “business insurance” refers to protecting the business against losses that occur as a result of business activity. What type of loss is covered by a business insurance policy depends on the insurance company, the policy language, and policy exclusions. Three of the most common types of coverages are “business property” and “business liability” and “product liability”

  • Liability insurance generally insures against negligence, bodily injury or resulting property damage.
  • Business property generally insures business property that a business owns in the event a loss occurs.
  • Product liability generally insures against faulty products and the damage, injury, or death from the use of a faulty product.

Business Specialty Package Policies generally include;

  • Accounts Receivable – Provides coverage for Accounts Receivable, which pays for the cost of reconstructing your accounts receivable records if they are damaged or destroyed.
  • Equipment Breakdown Coverage –  this covers such things as damage to your computer hard drive due to power surges.
  • Business Income – Reimburses you if your earnings are interrupted should your business need to be shut down for a time to recover from a loss, such as a fire or a windstorm.
  • Seasonal Increase – Boosts your limit of insurance for seasonal variations in the amount of business personal property/inventory you keep on hand.

Insurance companies spread the risk costs among similar classes of businesses to best determine insurance rates for a particular type of business.

Get A Business Insurance Quote ♦ Business Owner Policy ♦ General Liability ♦ Workers Compensation

Business Insurance


Connell Insurance Agency, Inc. – “Protecting What’s Important To You”

Comments are closed.