If you own a business of any size, insurance is a must. Business Insurance Latham NY offers protection for your business and your investment in the event of a lawsuit. Talk to an insurance agent about the best type of insurance for your business.
Liability Insurance
Liability insurance protects a business owner against legal fees due to an injury or accident. It also protects you from negligence. This policy will cover expenses related to property damage, personal injury, slander, libel, and settlement bonds due to an appeal. This insurance will also cover your attorney fees during litigation.
Product Liability Insurance
This type of insurance is recommended for companies that distributes, wholesales, manufacturers or retails a product, consider product liability insurance. This policy protects your company in case of a defect in a product.
Professional Liability Insurance
If your business provides a service, you should have professional liability insurance. This type of insurance policy protects you against malpractice, errors and negligence. Some professions are required to carry this type of insurance.
Commercial Property Insurance
This covers your property and store in the event of wind, hail, fire or smoke. It will also cover vandalism and civil disobedience. This policy protects not only your building, papers and money but also loss of income.
Be sure to read the fine print of this Business Insurance Latham NY carefully because not all policies cover all potential problems. An all-risk policy covers everything but the exceptions in the policy. A peril-specific one covers only the situations outlined in the policy. Typically, only large businesses or those at higher risk for certain types of peril buy peril-specific policies.
Home Based Business Insurance
If you run your business out of your home, your homeowners insurance may not cover your business. You can add riders to your existing policy to cover property damage, but a homeowner policy does not cover everything. Consider adding business insurance in addition to your homeowners insurance.
Before you buy an insurance policy for your business, talk to an agent. They can help you protect your business from a lawsuit or other disaster. They will suggest the best policy for you based on your type of business and the size of the business.
