What is Commercial Insurance? – Business Commercial

Between all the other preparations involved in starting up a new business, commercial insurance is very easy to overlook. Between finding a location, remodeling it to suit your particular needs, setting up equipment, hiring employees, and everything else, finding the right insurance is a step that is very easily forgotten. This is unfortunate and dangerous, because maintaining the three forms of commercial insurance may be the only thing that saves your business in the event of an unexpected tragedy that would otherwise result in its closure.There are three parts that make up general commercial insurance. Each of them provides protection from particular types of damages and unexpected expenses that may befall your business. They are all important, and together provide a significant amount of protection that no business should be without, particularly if it provides services to the public or has employees.General liability insurance protects your business from any potential damages incurred by a customer as a result of your employees or business in the course of running your business.Worker’s compensation provides financial support for employees who are hurt on the job. It will cover the medical expenses that result from that injury, and will provide them with a portion of their regular pay while they recover from that injury.Property insurance provides you with financial protection from any damages that may befall your physical place of business. Fire and flood insurance are common forms that are familiar to most people. Since there are so many different climates and locales, the particular forms that you will need for your business will vary considerably according to where you are located.