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”, “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

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

Tel: 828-274-3800 ♦ Mobile 828-279-3543 ♦ Fax 828-277-0354

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