Protect Your Business and Assets with Commercial Insurance

Generally, commercial insurance is categorized as property insurance, liability insurance or workers compensation insurance.

Property insurance covers damage to real or personal business property which results in a financial loss. Commercial liability insurance policies provide insurance protection from third-party bodily injury or property damage for which the insured is legally responsible. If someone is injured and they sue for personal injury or property damage, a commercial liability insurance would cover the cost of defending and resolving the suit up to the established policy limits.

Workers compensation or workmans' comp insurance protects employers in the event of injuries sustained by employees while on the job. Workers' compensation insurance is required by law in most states for employers with as few as one employee. Depending on the nature of your business, additional specialized coverage may be required. In states that do not require workers' compensation for private companies, policies may be required to cover each employee assigned to work on public projects. The private company may be required to show proof of workers compensation coverage in order to bid on public jobs.