3 Commercial Insurance Policies Every Business Needs

Depending on your industry, services, and legal structure, you could need a variety of insurance policies to fully cover your assets. Only a professional agent can help you assess your requirements. However, there are three commercial insurance policies every business owner should have for basic protection.

General Liability

These policies protect you if you or your employees are responsible for damage or loss to someone else’s property. This can include medical expenses due to bodily injury, lawsuits involving slander or libel, and other legal fees.

For businesses related to the construction trades, general liability insurance can give you an advantage over your competition. Potential clients are more likely to choose a business with coverage. Many are willing to pay more for services when they know they’ll be protected if something goes wrong.

Property Coverage

Whether you run a one-man operation from your basement or you command an empire that covers several city blocks, commercial property insurance protects your business real estate. Your equipment, inventory, and furniture may also be covered from loss and damage.

For home-based business owners, your homeowner’s policy may not be enough to protect your commercial assets. The insurance experts at WPL Insurance Services in Santa Clarita, CA can help you decide if you need additional coverage.

Professional Liability

If you or your business is accused of negligence that results in loss or damage, professional liability insurance will help cover your costs. Coverage varies depending on many factors.

Medical professionals are often required to carry professional liability insurance. Financial advisors, tax professionals, and even beauty professionals can benefit from these policies.

Contact the agents at WPL Insurance Services in Santa Clarita, CA for more information on specific policies to protect your livelihood.