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Archive for October, 2010

What Type of Business Insurance Do I Need?

Thursday, October 28th, 2010

Part I

Most people are familiar with the common types of commercial insurance, which include general liability, workers compensation, and property insurance.

General Liability Insurance

General liability insurance covers damages to a third party, property insurance covers damages to real business / personal property, and workers compensation insurance covers on the job injuries to your business’s employees.  Get a general liability insurance quote on our home page.

Now let’s examine each a little deeper and identify other types of insurance your company may need.

Property Insurance

Property insurance cover losses to real or personal property within the limits of the policy coverage. For example, damage from a fire to an office.

Some other types of property insurance include:

Glass Insurance

Glass insurance normally covers plate glass storefronts, and broken store windows which may be excluded in a policy.

Ordinance or Law Insurance

This type of insurance covers losses when your building has been shut down by law officials, needs to be upgraded or replaced to meet current code.  Such loss is typically 50% or more.  It is important to determine the age of your building and what current codes and law is (or could be) in your location.