Business Insurance: What You Need to Know
The world of business insurance Las Vegas can be confusing. There are many different types, and it's difficult to know what you really need to protect your company. This blog post will help you understand the four main types of business insurance and how each could help your business.
The types of coverage we'll discuss include general liability, property insurance, commercial auto coverage, and workers compensation. We hope this article helps!
What is general liability?
The first type of insurance we'll talk about is general liability. General liability insurance typically protects your business against lawsuits that arise during the course of doing business. This coverage also helps protect you if someone falls on your property or if your products are defective and cause injury.
When it comes to general liability, the more coverage you have, the better off you'll be in case something goes wrong. To get an accurate quote for this type of insurance, contact a professional broker today!
What is property insurance?
Property insurance protects your company against damage to its business building, office furniture, equipment, computers, inventory, and any other property.
If you get a new shiny car for your business but fail to purchase commercial auto coverage for it, then if the car is damaged or stolen, you are on the hook for paying out of pocket. Property insurance will cover the cost of replacement of the vehicle.
One thing to keep in mind is that property insurance will not cover damage to personal possessions inside your building or theft that happens off-site.
What is commercial auto coverage?
Commercial auto coverage is necessary for any company that owns vehicles. This type of insurance helps protect your company if an employee drives an insured vehicle, or if someone else drives the vehicle and gets into an accident.
Commercial auto coverage comes in two forms: commercial vehicles liability and commercial vehicles comprehensive.
The first, commercial vehicles liability, is necessary to cover your company if they are found liable for damages caused by a driver who was either employed by you or driving one of your insured vehicles.
The second, commercial vehicles comprehensive, is used to cover the physical damage to the vehicle (such as fire, theft).
What is workers compensation?
Workers compensation is a type of insurance that covers employees injured on the job. Workers compensation benefits could include weekly payments for a period of time, medical assistance, and other monetary assistance.
In general, workers compensation is designed to help employees who may be hurt or made ill from their employment. For example, if an employee has an injury or becomes sick as a result of their work, this will be covered by workers compensation.
It's important to note that not every business needs to have workers compensation coverage. However, if your business hires employees who may be hurt or made ill at work, you might want to consider it as a form of protection.
Conclusion
You've probably heard the phrase, "It takes money to make money." That's true in business, and even more so when it comes to operating a business. You need to invest in your business to grow it.
A lot of small businesses know how important it is to invest in their company, but they don't know how or where to start. One of the most effective ways you can grow your company is with commercial insurance.
Commercial insurance protects you from unexpected accidents and claims related to your business. It also covers your employees if they're injured while on the job, which helps them stay more productive.
Schedule your appointment now , Call (702) 832-0220
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