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Business owners have a wide variety of assets and interests that they need to protect. In order to get the most comprehensive coverage, they'll need to consult with a reputable commercial insurance agent. Many types of coverage fall within the category of commercial insurance. Some are similar to independent offerings, such as automotive and property coverage, while other types of commercial insurance are specific to the business world. The following breaks down a few of the options available. Property This option covers real estate and belongings. Common equipment that is included in a property plan includes computers, furniture, inventory, and other office equipment. It can protect against a variety of problems, including theft, fire, vandalism, and more. Loss of Earning This covers lost wages in a situation in which the organization is unable to operate. For example, if a fire has caused extensive damage and the business is forced to shut its doors for weeks or even months, Loss of Earning coverage will provide protection. Auto Vehicles that transport employees, company equipment, or products can all be covered. This includes all types of vehicles, including SUVs, cars, vans, and trucks. Employees who drive their own vehicles for work purposes should also seek non-owned auto liability coverage. Workers Compensation This program benefits employees who are injured on the job. It replaces lost wages and provides medical benefits, and is required in all 50 states. It protects owners from being sued by injured employees. General Liability This coverage applies if anyone claims the business, its products, or its services caused bodily injury or property damage. It is essential for both home-based business and larger organizations. Professional Liability A professional liability package offers defense against claims of failure to deliver or improper delivery of services. This could apply to many types of businesses ranging from a hair salon to a business consultancy to a law firm. It is commonly referred to as Errors and Omission coverage. Data Breach Data can be accessed and leaked in the form of paper files and by electronic means. Businesses that are responsible for storing sensitive personal data about its employees or customers, such as credit card numbers or social security numbers, need protection from a breach. Life This form of commercial insurance impacts not only business owners and employees, but also their families. In the case of death, financial benefits are directed to a beneficiary. This is particularly important to protect spouses and family members from having serious financial concerns following the death of a loved one who provided financial support. Interested in learning more about commercial insurance? Mobile, AL residents can find out more by visiting http://www.thamesbatre.com.
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