When it comes to insurance, most people typically know about auto and home insurance. This is a product offered by insurance companies directly to consumers.  Unless you own a business, however, chances are that you haven’t heard much about commercial insurance policies. As its name implies, this policy is more of a business to business service.

These days, owning or starting up your own business is riddled with risks and expenses that frequently occur when you least need them, and much less afford them. Whether it’s a work-related accident with an employee or an unforeseen weather event that damages some of your machinery, a commercial insurance policy can help provide the financial support you need to continue operating your business.

Needless to say, being a business owner is not for the faint of heart, or for the light in cash.

Finding the right commercial insurance for your business is more than just getting the best rates and finding a great package of products. It’s about forming a productive alliance with a company that can create the right solutions for YOUR business needs and protecting your interests.

Keep on reading to learn more about commercial insurance and why your business cannot afford to operate without having the right insurance policy in place to protect your long-term interests.

Different Types of Commercial Insurance

There are three standard forms of insurance offered to businesses: property, liability and worker’s compensation. It is also important to note that other forms of customized forms of business insurance are available and can be tailored to fit your particular business needs.

Property Insurance.
Property insurance provides protection your business property from damages caused by things like fire, weather and theft. In addition, there are further levels of insurance you can purchase that include protection such as machinery, debris, and even glass.

Commercial Auto Insurance
Commercial auto insurance can cover a combination of vehicle types (trucks, cars) and drivers, as well as some types of motorized equipment. It provides for bodily injury liability and property damage while operating a company automobile, and medical payments or Personal Injury Protection (PIP) for the driver and passengers of the policyholder’s car.

Liability Insurance.
Liability insurance covers protections against claims caused by personal and property damages. Should the business be found legally liable, this type of insurance covers the costs of the payouts to the injured parties. Note: this does NOT cover the cost of damages from intentional damages or breach of contracts.

Worker’s Compensation.
This type of insurance helps replace lost wages and medical compensation to workers who get injured while on the job. However, the compensation is only paid out to these workers under the condition that they do not proceed to sue their employers for the tort of negligence.

Without this type of insurance, a business could potentially face significantly higher penalties if the case goes to court. In fact, many business have actually become insolvent due to the astronomical damage reward payouts.  


There is no question that if you want to start up a business or continue running one for the long-term, having the right commercial insurance provider is crucial to protecting your business from huge, unforeseen financial losses. The right commercial insurance policy can mean the difference between your business sinking or sailing into profitability.

However, not all commercial insurance providers are the same, and you should stay away from those one-size-fits all product packages that insurers like to promote.

Fortunately, finding the right commercial insurance providers has never been easier. You can now go online and browse through the pages of your local insurers and see what people are saying about them in their online reviews.

Once you find some good candidates, it is crucial that you meet with them face to face and get all your answers until you satisfied. Remember, you are trying to build a long-term and productive relationship that will benefit both parties and will enable your business to focus on being successful.

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