What is commercial business insurance?

Owning a business comes with many responsibilities and one of those is to ensure that you have the proper commercial insurance policy in place but what exactly is commercial insurance?

Commercial insurance is essentially an insurance policy that protects you and your business from unexpected circumstances. There are three main types of commercial insurance, including property insurance that covers your equipment, building, and office areas, general liability insurance that protects you and your business if there is damage or injuries to a third party, and worker’s compensation that covers medical costs for employees if they are injured on the job.

Commercial liability encompasses several issues and is the most important part of commercial insurance coverage. Whether you own a small pizza shop or a large plastics manufacturing company, your business needs to be covered under commercial liability insurance.

This type of insurance covers the injuries a person may suffer, or damage to their property if it occurs because of you or one of your employees while you are working. Also, if a person visits your store, office, work area, or shop and is injured, your commercial insurance policy will cover the costs of their medical bills and other expenses. If the products you produce causes an injury to someone, your commercial insurance policy can help cover the medical expenses of that person.

Sometimes businesses can get sued for a variety of reasons, including when someone is injured on your property or because of one of your employees or equipment. Having a commercial insurance policy in place will give you the peace of mind you need to focus on growing your business to success without the worry of a catastrophe happening.

In Arvada, CO, contact your experienced agents at Alliance Insurance Services for all of your commercial insurance needs.