Many people start their own business because they want to be their own boss and they truly believe in their product or service. This can be a thrilling endeavor. Along with that, however, comes a great deal of responsibility and in some cases even liability. In order to mitigate that liability, it is important that business owners have the proper insurance products in place. At Alliance Insurance Partners, serving Scottsdale, AZ, we take great pleasure in educating clients on these important insurance topics. Keep reading to find out more about commercial insurance.
What Is Commercial Insurance?
Commercial insurance is a combination of different types of insurance products that are put together to address the special insurance needs of business owners. You have made a large investment of time and money into your company. In order to protect that investment, you need the right insurance products in place.
What Does Commercial Insurance Cover?
Commercial insurance is often customized to meet the individual needs of each business. However, there are a few general areas of coverage that most business owners will benefit from.
Property Damage- Property damage insurance for businesses is similar to that for homeowners. If your business property or equipment is damaged due to fire, natural disaster, or theft, the insurance will kick in to pay for repairs or replacement.
Auto Coverage- Auto coverage is necessary if your business operates vehicles.
Liability- Liability coverage is essential to the long term financial health of your company. If someone is injured on your property or as a result of using your goods or services, you could be held liable for their medical expenses. If the incident results in a legal case, your company could be left financially vulnerable.
If you would like to learn more about commercial insurance, please contact our staff today at Alliance Insurance Partners, serving Scottsdale, AZ.