Commercial Insurance Policies Protect Business Owners

Individuals who own a business need insurance to protect the company against any risk or potential claims that may be filed against it. A commercial insurance policy is not a one-size-fits-all because of the many types of businesses and risks that are inherent to each. During the underwriting process, your business insurance agent will gather detailed information as it relates to the business endeavor and will determine the types of risks the business owner could be exposed. The information gathering will lead your agent to write the most comprehensive business insurance policy possible.

There are small business insurance packages …

Small Business Owner Insurance Needs

Entrepreneurs have unique needs when it comes to purchasing insurance policies. The types of insurance needed vary based on the type of business being operated. Additionally the business owner needs to purchase insurance that relates to the operation of the business as well as purchasing insurance to cover family-related issues.

Here is a breakdown of the types of insurance policies a business owner should discuss with his insurance agent:

• Errors and Omissions/Professional Liability Insurance: This type of insurance protects the professional in his or her dealings with the public. The professional liability policy protects the insured against any financial liability

The Importance of Insurance For Business Owners

Operating a business that is open to the public is an invitation to an accident or a lawsuit. Accidents can occur at any time, regardless of the care the business owner takes to make certain the site is safe for visitors. If a customer or client is injured at your place of business, legal problems and expenses can quickly escalate. Business owners that are not properly insured run the risk of losing their livelihood.

Whether you own and operate a shopping mall, a small business from your home, or an office in a strip mall, any number of incidents could …

How Commercial Umbrella Insurance Protects New Jersey Businesses

When growing and managing a small or large business in New Jersey, it is critical to carry a generous amount of liability insurance to protect the business from any number of risks and exposures on the commercial premises that could result in the business having to pay out damages. The challenge is that your regular insurance policies have liability limits, and if there is ever damage that exceeds these limits, the business can be at risk of paying out damages directly. To address this concern, it often makes sense for a New Jersey business to purchase a commercial umbrella insurance …